Cook County Business and Economic Development Committee met March 19.
Here is the agenda as provided by the committee:
NOTICE AND AGENDA
There will be a meeting of the Committee or Subcommittee of the Board of Commissioners of Cook County at the date, time and location listed above to consider the following:
PUBLIC TESTIMONY
Authorization as a public speaker shall only be granted to those individuals who have submitted in writing, their name, address, subject matter, and organization (if any) to the Secretary 24 hours in advance of the meeting. Duly authorized public speakers shall be called upon to deliver testimony at a time specified in the meeting agenda. Authorized public speakers who are not present during the specified time for public testimony will forfeit their allotted time to speak at the meeting. Public testimony must be germane to a specific item(s) on the meeting agenda, and the testimony must not exceed three minutes; the Secretary will keep track of the time and advise when the time for public testimony has expired. Persons authorized to provide public testimony shall not use vulgar, abusive, or otherwise inappropriate language when addressing the Board; failure to act appropriately; failure to speak to an item that is germane to the meeting, or failure to adhere to the time requirements may result in expulsion from the meeting and/or disqualify the person from providing future testimony.
19-2319
COMMITTEE MINUTES
Approval of the minutes from the meeting of 02/19/2019.
19-1767
Sponsored by: TONI PRECKWINKLE (President) and BRANDON JOHNSON, Cook County Board of Commissioners
PROPOSED RESOLUTION
7415 ST. LOUIS LLC 6B PROPERTY TAX INCENTIVE REQUEST
WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 6b application containing the following information:
Applicant: 7415 St. Louis LLC
Address: 10 Davis Drive, Bellwood, Illinois 60104
Municipality or Unincorporated Township: Village of Bellwood
Cook County District: 1
Permanent Index Number: 15-08-101-061-0000
Municipal Resolution Number: Village of Bellwood, Resolution Number 18-61
Number of month property vacant/abandoned: 80% of the building has been vacant since 3/1/2014 the building was 100% vacant for 10 days prior to purchase
Special circumstances justification requested: Yes
Estimated Number of jobs created by this project: 15 full-time jobs and four (4) part-time jobs
Estimated Number of jobs retained at this location: Not applicable
Estimated Number of employees in Cook County: Same as above
Estimated Number of construction jobs: TBD
Proposed use of property: Industrial use- fabricating, 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 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 24 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 less than 24 months and purchase for value, by a purchaser in whom the seller has no direct financial interest, the County may determine that special circumstances justify finding the property is deemed abandoned; and
WHEREAS, Class 6b requires the validation by the County Board of the shortened period of qualifying abandonment in cases where the facility has been abandoned for less than 24 consecutive months upon purchase for value; and
WHEREAS, the municipality states the Class 6b is necessary for development to occur on this specific real estate. The municipal resolution cites the qualifications of this property to meet the definition of abandoned with special circumstances; and
WHEREAS, industrial real estate is normally assessed at 25% of its market value, qualifying industrial real estate eligible for the Class 6b can receive a significant reduction in the level of assessment from the date that new construction or rehabilitation has been completed, or in the case of abandoned property from the date of substantial re-occupancy. Properties receiving Class 6b will be assessed at 10% of the market value for 10 years, 15% for the 11th year and 20% in the 12th year; and
NOW, THEREFORE, BE IT RESOLVED, by the President and Board of Commissioners of the County of Cook, that the President and Board of Commissioners validate the above-captioned property is deemed abandoned with special circumstances under the Class 6b; and
BE IT FURTHER RESOLVED, that the County Clerk is hereby authorized and directed to forward a certified copy of this resolution to the Office of the Cook County Assessor
Legislative History : 2/21/19 - Board of Commissioners - refer to the Business and Economic Develop
19-1806
Sponsored by: TONI PRECKWINKLE (President) and JEFFREY R. TOBOLSKI, Cook County Board of Commissioners
PROPOSED RESOLUTION
MIF 6620 RIVER (HODGKINS) LLC 6B PROPERTY TAX INCENTIVE REQUEST
WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 6b application containing the following information:
Applicant: MIF 6620 River (Hodgkins) LLC
Address: 6620 River Road, Hodgkins, Illinois 60525
Municipality or Unincorporated Township: Village of Hodgkins
Cook County District: 16
Permanent Index Number: 18-22-304-004-0000 and 18-22-304-007-0000
Municipal Resolution Number: Village of Hodgkins, Resolution NO. 2018-9
Number of month property vacant/abandoned: One (1) month vacant
Special circumstances justification requested: Yes
Estimated Number of jobs created by this project: To be determined
Estimated Number of jobs retained at this location: To be determined
Estimated Number of employees in Cook County: Same as above
Estimated Number of construction jobs: 40 construction jobs
Proposed use of property: Industrial use - warehousing, manufacturing and/or distribution
Living Wage Ordinance Compliance Affidavit Provided: Yes
WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 6b 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 24 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 less than 24 months and purchase for value, by a purchaser in whom the seller has no direct financial interest, the County may determine that special circumstances justify finding the property is deemed abandoned; and
WHEREAS, Class 6b requires the validation by the County Board of the shortened period of qualifying abandonment in cases where the facility has been abandoned for less than 24 consecutive months upon purchase for value; and
WHEREAS, the municipality states the Class 6b is necessary for development to occur on this specific real estate. The municipal resolution cites the qualifications of this property to meet the definition of abandoned with special circumstances; and
WHEREAS, industrial real estate is normally assessed at 25% of its market value, qualifying industrial real estate eligible for the Class 6b can receive a significant reduction in the level of assessment from the date that new construction or rehabilitation has been completed, or in the case of abandoned property from the date of substantial re-occupancy. Properties receiving Class 6b will be assessed at 10% of the market value for 10 years, 15% for the 11th year and 20% in the 12th year; and
NOW, THEREFORE, BE IT RESOLVED, by the President and Board of Commissioners of the County of Cook, that the President and Board of Commissioners validate the above-captioned property is deemed abandoned with special circumstances under the Class 6b; and
BE IT FURTHER RESOLVED, that the County Clerk is hereby authorized and directed to forward a certified copy of this resolution to the Office of the Cook County Assessor
Legislative History : 2/21/19 - Board of Commissioners - refer to the Business and Economic Develop
19-1807
Sponsored by: TONI PRECKWINKLE (President) and JEFFREY R. TOBOLSKI, Cook County Board of Commissioners
PROPOSED RESOLUTION
MIF 6600 RIVER (HODGKINS) LLC 6B PROPERTY TAX INCENTIVE REQUEST
WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real Property Assessment Classification 6b application containing the following information:
Applicant: MIF 6600 River (Hodgkins) LLC
Address: 6600 River Road, Hodgkins, Illinois 60525
Municipality or Unincorporated Township: Village of Hodgkins, Illinois
Cook County District: 16
Permanent Index Number: 18-22-304-010-0000, 18-22-304-011-0000, 18-22-304-018-0000 and
18-22-304-021-0000
Municipal Resolution Number: Village of Hodgkins, Resolution No. 2018-08
Number of month property vacant/abandoned: 12 months vacant
Special circumstances justification requested: Yes
Estimated Number of jobs created by this project: To be determined
Estimated Number of jobs retained at this location: To be determined
Estimated Number of employees in Cook County: Same as above
Estimated Number of construction jobs: 60 construction jobs
Proposed use of property: Industrial use - warehousing, manufacturing and/or distribution
Living Wage Ordinance Compliance Affidavit Provided: Yes
WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 6b 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 24 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 less than 24 months and purchase for value, by a purchaser in whom the seller has no direct financial interest, the County may determine that special circumstances justify finding the property is deemed abandoned; and
WHEREAS, Class 6b requires the validation by the County Board of the shortened period of qualifying abandonment in cases where the facility has been abandoned for less than 24 consecutive months upon purchase for value; and
WHEREAS, the municipality states the Class 6b is necessary for development to occur on this specific real estate. The municipal resolution cites the qualifications of this property to meet the definition of abandoned with special circumstances; and
WHEREAS, industrial real estate is normally assessed at 25% of its market value, qualifying industrial real estate eligible for the Class 6b can receive a significant reduction in the level of assessment from the date that new construction or rehabilitation has been completed, or in the case of abandoned property from the date of substantial re-occupancy. Properties receiving Class 6b will be assessed at 10% of the market value for 10 years, 15% for the 11th year and 20% in the 12th year; and
NOW, THEREFORE, BE IT RESOLVED, by the President and Board of Commissioners of the County of Cook, that the President and Board of Commissioners validate the above-captioned property is deemed abandoned with special circumstances under the Class 6b; and
BE IT FURTHER RESOLVED, that the County Clerk is hereby authorized and directed to forward a certified copy of this resolution to the Office of the Cook County Assessor
Legislative History : 2/21/19 - Board of Commissioners - refer to the Business and Economic Develop
19-1965
Sponsored by: DONNA MILLER, Cook County Board of Commissioners
PROPOSED ORDINANCE AMENDMENT
AN AMENDMENT TO CHAPTER 74, ARTICLE II, REAL PROPERTY TAXATION
WHEREAS, vacant properties can devastate a neighborhood and block, undermine neighbors’ quality of life, and diminish the value of nearby properties; and
WHEREAS, they also cause severe fiscal damage to local governments, reducing local tax revenues while costing cities millions for policing, cleaning vacant lots, and demolishing derelict buildings; and
WHEREAS, most vacant buildings and houses are well maintained, but many are not and thousands can sit empty for years, abandoned by their owners, deteriorating to the point where they cannot be reused without major rehabilitation with many ultimately demolished, leaving vacant lots in their place; and
WHEREAS, besides their impact on social and economic conditions, vacant, abandoned properties have a devastating effect on the fiscal condition of their cities, towns, and counties; and
WHEREAS, not only do they pay little in property taxes and generate little revenue for the city or county when sold at tax sales, but they further reduce property tax collections by millions of dollars by devaluing neighboring properties; and
WHEREAS, among the County’s tools to assist in jumpstarting economic development and turning communities around are tax incentives; however, owners of vacant property, who receive said incentives should not be able to indefinitely benefit from them without developing and re-purposing such properties;
NOW THEREFORE, BE IT ORDAINED, by the Cook County Board of Commissioners, that Chapter 74 - Taxation, Article II - Real Property Taxation, Division 2 - Classification System for Assessment, Section 74-73, of the Cook County Code is hereby amended as follows:
Sec. 74-73. - Revocation or cancellation of incentive classification.
(a) The following Incentive Classifications are subject to revocation herein: Class 6b (special circumstances); Class 6b TEERM; Class 6b SER; Class 7a; Class 7b; Class 7c; Class 8; and Class 8 TEERM.
(b) The incentive may be revoked under the following circumstances:
(1) By rule, as provided by the Assessor; or
(2) By the County Board by Resolution or Ordinance, which is based on a report from the Bureau of Economic Development that has been approved by the Economic Development Advisory Committee of the County; or
(3) By the County Board by Resolution or Ordinance at the request of the Municipality by submission of a Municipal Resolution or Ordinance; and or
(4) By request of the taxpayer to cancel; or
(5) Beginning in the 2019 assessment year and subsequent assessment years, absent an affidavit documenting the stage of leasing, development or sale and by finding of the Bureau of Economic Development or by the Assessor that Abandoned or Vacant property as defined in this code that have received property tax incentives as classified in Sec. 74-73 (a) for two consecutive tax years and title holder(s) have failed to lease, develop or sell said property in such time period or is found to be in noncompliance with The Cook County Vacant Building Ordinance for more than sixty calendar days, a one year suspension of the incentive will be incurred followed by full revocation in the second year if not remedied.
(c) A basis for revocation pursuant to Section 74-73(b)(2) or (b)(3) above includes, but is not limited to, the following:
(1) Failure to comply with the requirements of Section 74-71 or 74-72;
(2) Delinquency in the payment of any property taxes administered by Cook County or by a local municipality; or
(3) Inaccuracies or omissions in documents submitted by the taxpayer, including, but not limited to, the application and the Economic Disclosure Statement.
In case of revocation, or cancellation, or suspension the Incentive Classification shall be deemed null and void for the tax year in which the incentive was revoked, or cancelled, or suspended as to the subject property. In such an instance, the taxpayer shall be liable for and shall reimburse to the County Collector an amount equal to the difference in the amount of taxes that would have been collected had the subject property been assessed as a Class 5 property and the amount of taxes collected under the Incentive Classification as determined by the Assessor.
Effective date: This ordinance shall be in effect immediately upon adoption
Legislative History : 2/21/19 - Board of Commissioners - refer to the Business and Economic Develop
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