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PROPOSED NO CASH BID REQUEST
Requestor: Richard B. Boehm, Village Manager, Village of Palos Park
Request: Approval of No Cash Bid Request
Location: Village of Palos Park
Volume and Property Index Number:
152, 23-26-208-007-0000
Summary: The Village of Palos Park, (the “Village”) has targeted a location within the Village for Redevelopment. In the interest of utilizing the property for said purposes, the Village is seeking title to the following tax delinquent property and request that the Cook County Board of Commissioners submit a No Cash Bid for this property on behalf of the Village. The PIN in this Request Package is as follows:
Currently the property is a vacant lot, commonly addressed as 8312 W. 123rd Street, Palos Park, IL 60464. The Village has determined the parcel to be vacant land. That use is no longer fitting, and the area suffers from economic depreciation. In the interest of utilizing the property for productive use, the current and intended uses for the parcel, which will greatly benefit the Village, are to acquire the property for open space and passive recreation, with the possibility of future redevelopment in a manner to greatly benefit the residents of the Village and the general public.
The Village will file for tax exempt status as long as it retains the PIN for municipal use, maintaining that status until any property is conveyed to a potential developer. This request does not contain a Third-Party Requestor. The Village Attorney to the Village of Palos Park will obtain a tax deed and bear all legal and other costs associated with acquisition of the parcel. The Village agrees to submit, to the Cook County Department of Planning and Development, No Cash Bid Report 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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