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A RESOLUTION DETERMINING THE APPROPRIATENESS FOR CLASS 6B STATUS PURSUANT TO THE COOK COUNTY REAL PROPERTY CLASSIFICATION ORDINANCE, AS FROM TIME TO TIME AMENDED, SPECIFICALLY FOR THE SPECIAL ASSESSMENT OF "NEW CONSTRUCTION" FOR CERTAIN REAL ESTATE BEING EXPANDED BY PANDUIT CORPORATION AND LOCATED 10500 WEST 167TH STREET, ORLAND PARK/COOK COUNTY, ILLINOIS, PIN NUMBER 27-20-403-014-0000.
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WHEREAS, the Village of Orland Park desires to promote the development, retention, substantial rehabilitation and expansion of industry in the Village of Orland Park; and
WHEREAS, the Cook County Assessor is operating under an ordinance enacted by the Cook County Board of Commissioners, and amended from time to time, the most recent amendment becoming effective as of January 1, 2007, which has instituted a program to encourage industrial and commercial attraction, retention, rehabilitation, and expansion in Cook County known as the Cook County Real Property Classification Ordinance; and
WHEREAS, Panduit Corporation, a manufacturer of network communication products presently employing 374 individuals, has applied for or is applying for Class 6b property status pursuant to said aforementioned ordinance, specifically as the ordinance covers "new construction," for certain real estate located at 10500 West 167th Street, Orland Park/Cook County, PIN No. 27-20-403-014-0000, and legally described in Exhibit A attached hereto; and
WHEREAS, Panduit Corporation's "new construction" will cover approximately 60,000 square feet, and
WHEREAS, Panduit Corporation anticipates to infuse an investment of approximately $6.5 million into the "new construction", and
WHEREAS, the subject property will be occupied by Panduit Corporation with a focus on micro molding, and
WHEREAS, Panduit Corporation expects to create 60 to 75 additional jobs over the next five years through the "new construction," while retaining 374 present jobs, and
WHEREAS, the granting of Class 6b tax incentive for the subject property is necessary for the execution of the intended project, and
WHEREAS, notwithstanding the Class 6b status of the subject property, the improvements to, and utilization thereof, will generate significant new revenue to the Village of Orland Park and Cook County, and
WHEREAS, Panduit has proven the need for "new construction" to this Board, and that such incentive provided for in said ordinance is necessary for development to occur on this specific real estate, and that Panduit intends to make a substantial investment in said property to increase value.
NOW, THEREFORE, BE IT RESOLVED, by the President and Board of Trustees of the Village of Orland Park, Cook County, Illinois as follows:
1. That the request of Panduit Corporation to have certain real estate located at 10500 West 167th Street, Orland Park/Cook County, Illinois, legally described below, and with PIN NO. 27-20-403-014-0000, declared eligible for Class 6b status pursuant to the Cook County Real Property Classification Ordinance, as amended from time to time, is hereby granted in that this Board and municipality recognizes that the property, as stated herein, is in need of "new construction," and the incentive benefits provided for in said ordinance are necessary for development of this real estate to occur, and Panduit's substantial investment in this real estate will increase its value, and retain existing jobs and create new employment opportunities.
2. The industrial use of the property identified below is necessary and beneficial to the local economy of the Village of Orland Park, Cook County, Illinois, and the Village Board hereby supports and consents to the Class 6B status for the said property.
3. The above finding of necessity and benefit to the local economy and support and consent for Class 6B renewal shall relate to the property tax parcel No. 27-20-403-014-0000 legally described as:
LOT 1 IN PANDUIT - ORLAND SUBDIVISION, A SUBDIVISION OF PART OF THE SOUTHEAST QUARTER OF SECTION 20, TOWNSHIP 36 NORTH, RANGE 12 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS
and identified by the following common addresses:
Business Address
Panduit Corporation 10500 West 167th Street, Orland Park, Illinois
4. That the mayor and Clerk and other appropriate Village of Orland Park officials are hereby authorized to sign any necessary documents to implement this resolution.
5. This Resolution shall be in full force and effect from and after its adoption.
6. The Village Clerk shall forthwith transmit a certified copy of this Resolution to the Office of the Assessor of Cook County, Illinois, and to the business owners at the common address herein listed, and to such other parties in interest as required by law.