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PROPOSED NO CASH BID REQUEST
Requestor: Frank Podbielniak, Village President, Village of Posen
Request: Approval of No Cash Bid Request
Location: Village of Posen
Volume and Property Index Number:
023, 28-01-407-029-0000; 023, 28-01-407-035-0000; 027, 28-12-102-016-0000; 027, 28-12-102-017-0000; 027, 28-12-102-018-0000; 027, 28-12-103-001-0000; 027, 28-12-103-002-0000; 027, 28-12-103-003-0000; 027, 28-12-103-004-0000; 027, 28-12-103-033-0000; 027, 28-12-103-034-0000; 027, 28-12-103-035-0000.
Summary: The Village of Posen would like to participate in the Cook County No-Cash Bid program. It would like to request the parcels of land with the following PINs: This No Cash Bid program package contains a request for twelve (12) properties. Property index numbers, 28-01-407-029-0000 and 28-01-407-035-0000 are the only remaining two (2) parcels in Block 407 that are not owned by the Village of Posen. Ownership of these remaining parcels would afford the Village of Posen the ability to develop the entire area. The remaining ten (10) parcels are all vacant unimproved land located at the end of Albany Street. The Village of Posen seeks to complete the development of this street with several residential single-family homes.
The Village of Posen will file for tax exempt status on said properties. Legal counsel has been retained to obtain the tax deed on behalf of the Village of Posen and it will bear all legal and other costs associated with the acquisition of the parcels. Additionally, the Village of Posen will send a No-Cash Bid Report to the Cook County Bureau of Economic Development on the status of the parcels for five (5) years or until development and/or rehabilitation is complete, whichever occurs last. There is no Third-Party Requestor involved in this request by the Village of Posen.
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