Title
A RESOLUTION CONSENTING TO & SUPPORTING A CLASS 7b TAX INCENTIVE FOR THE REAL PROPERTY LOCATED AT 14497 JOHN HUMPHREY DRIVE, ORLAND PARK, ILLINOIS 60462
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WHEREAS, Article VII, Section 10 of the 1970 Illinois Constitution authorizes the Village of Orland Park (“Village” to contract with individuals, associations, and corporations in any manner not prohibited by law or ordinance; and
WHEREAS, the Village desires to promote and preserve commercial uses in the Village; and
WHEREAS, 24 Orland Park, LLC the current record title holder of that certain real property located at 14497 Jonh Humphrey Drive, Orland Park, Illinois 60462, legally described as EXHIBIT A, attached hereto and made a part of this resolution (the “Subject Property”); and
WHEREAS, the Cook County Assessor is operating under the Cook County Real Property Classification Ordinance (the "Ordinance") enacted by the Cook County Board of Commissioners, as amended from time to time, which provides property owners, in certain cases, with a reduction in the assessed valuation of a commercial facility, in order to induce companies to locate, expand, and remain in Cook County; and
WHEREAS, 24 Orland Park, LLC or its assignee (the "Petitioner") has applied, or is applying, for a Class 7b Real Estate Tax Assessment Classification under the Ordinance, and has proven to the President and Board of Trustees of the Village (the "Village Board") that such Class 7b Classification is necessary to develop and maintain occupancy of the subject property under the eligibility criteria based on Reoccupation of Abandoned Property with Greater than 12 Months Vacancy, A Purchase for Value & and Substantial Rehabilitation as well as designating the area as blighted pursuant to Section 74-65(a) in compliance with the County Ordinance; and
WHEREAS, an Economic Disclosure Statement has been received and filed by the Village of Orland Park; and
WHEREAS, the Applicant desires to invest over $2,000,000 to rehabili...
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