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PROPOSED RESOLUTION
Stern Pinball Inc. Class 6b CEERM PROPERTY TAX INCENTIVE REQUEST
WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 6b CEERM application containing the following information:
Applicant: Stern Pinball Inc.
Address: 1001 Busse Avenue, Elk Grove Village, Illinois
Municipality or Unincorporated Township: Village of Elk Grove
Cook County District: 15th District
Permanent Index Number: 08-26-303-014-0000
Municipal Resolution Number: Village of Elk Grove, Resolution No. 55-22
Number of month property vacant/abandoned: Five (5) months vacant
Special circumstances justification requested: Yes
Proposed use of property: Industrial, manufacturing, warehousing, and distribution
Living Wage Ordinance Compliance Affidavit Provided: Yes
WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 6b Critical Emergency Employee Retention Modification (CEERM) that provides an applicant a reduction in the assessment level for an abandoned industrial facility; and
WHEREAS, the Cook County Classification System for Assessment defines abandoned property as buildings and other structures that, after having been vacant and unused for at least 12 continuous months, have been purchased for value by a purchaser in whom the seller has no direct financial interest; and
WHEREAS, in the instance where the property does not meet the definition of abandoned property, the municipality or the Board of Commissioners, may determine that special circumstances may exist that justify finding that the property is abandoned for purpose of Class 6b; and
WHEREAS, in the case of abandonment of buildings and other structures where there has been no purchase for value, and has been vacant and unused for at least 3 continuous months and the applicant has provided sufficient documentation to establish that such applicant will create or maintain at leas...
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