Title
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.
Body
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 ...
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