Title
A RESOLUTION APPROVING A COOK COUNTY CLASS 6B TAX RATE DESIGNATION FOR PROPERTY COMMONLY KNOWN AS 10441 163rd PLACE, ORLAND PARK, ILLINOIS
Body
WHEREAS, a Cook County Class 6B Eligibility Application concerning the property commonly known as 10441 163rd Place (PIN: 27-20-401-023) (the “Subject Property”), has been or will be filed with the Office of the Cook County Assessor by Smartcorr Systems, Inc., the owner of the Subject Property (“Owner”); and
WHEREAS, the Owner desires to convert the Subject Property from a truck maintenance facility to a specialized corrosion control production manufacturing plant (“Manufacturing Plant”) on the Subject Property, the building for which is currently vacant; and
WHEREAS, if a Cook County Class 6B Eligibility Designation is approved by a local municipality, the Subject Property will be assessed at 10% of market value for a 10-year period (15% in the 11th year, 20% in the 12th year); and
WHEREAS, the Owner requests that the Village specify and consent to the Class 6B Eligibility Designation to assist with and encourage the conversion of the Subject Property to the Manufacturing Plant; and
WHEREAS, the Village President and Board of Trustees find and determine that that the Subject Property and its intended use meet the eligibility factors which must be present to qualify for the Class 6 Real Estate Tax Incentive of Cook County Real Estate Assessment Classification; and
NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF ORLAND PARK, COOK COUNTY, ILLINOIS, AS FOLLOWS:
SECTION 1
The Preamble set forth above is incorporated by reference and made a part of Section 1 of this Resolution.
SECTION 2
The President and Board of Trustees hereby support and consent to the Class 6B Eligibility Designation for the Subject Property.
SECTION 3
The President and Board of Trustees find that all eligibility factors required to demonstrate the Subject Property is in need of industri...
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