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PROPOSED NO CASH BID REQUEST
Requestor: John Mahoney, Mayor, Village of Palos Park
Request: Approval of No Cash Bid Request
Location: Village of Palos Park
Volume and Property Index Number:
152, 23-26-403-002-0000
Summary: The Village of Palos Park has targeted a location within the Village that would initially be used for municipal use, with the possibility for redevelopment at a future date. In the interest of the utilizing this property for said purposes, the Village of Palos Park is seeking title to the tax delinquent property, and requests that the Cook County Board of Commissioners submit a No Cash Bid for this property on behalf of the Village. This Request Package contains one (1) PIN, which is a vacant land. The Village had filed suit about eight (8) years ago to have a dilapidated building removed from the property with said building being subsequently removed. If the Village of Palos Park were to obtain title to the property, it will file for tax exempt status for the property, because it will initially retain the property for open space and passive recreation to serve the public, until such time, if any, as the Village of Palos Park conveys the parcel for future redevelopment.
This request does not contain a Third Party Requestor. The Village of Palos Park will bear all legal and other costs associated with acquisition of the parcel. The Village of Palos Park agrees to submit, to the Cook County Bureau of Economic Development, Annual No Cash Bid Reports on the status of the parcel for five (5) years, or until development is complete, whichever occurs last, as required by the Cook County No Cash Bid Ordinance.
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