The Cook County Business and Economic Development Committee met Jan. 18 to review the vacant property list.
Here is the meeting's agenda, as provided by the committee:
Board of Commissioners of Cook County
Business and Economic Development Committee
Cook County Building, Board Room,
118 North Clark Street, Chicago, Illinois
Wednesday, January 18, 2017 9:30 AM
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.
17-1139
COMMITTEE MINUTES
Approval of the minutes from the meeting of 12/14/2016
17-0453
Sponsored by: TONI PRECKWINKLE (President) and TIMOTHY O. SCHNEIDER, Cook County
Board of Commissioners
PROPOSED RESOLUTION
ASHLAND DOOR SOLUTIONS LLC OR ITS ASSIGNEE 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:
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Business and Economic January 18, 2017
Development Committee
NOTICE AND AGENDA - Draft
Applicant: Ashland Door Solutions LLC or its Assignee
Address: 185 Martin Lane, Elk Gove Village, Illinois 60007
Municipality or Unincorporated Township: Elk Grove Village
Cook County District: 15
Permanent Index Number: 08-22-301-059-0000
Municipal Resolution Number: 25-15, approved May 12, 2015
Number of month property vacant/abandoned: 2 months at time of application to BED
Special circumstances justification requested: Yes
Estimated Number of jobs created by this project: 8 full-time, 0 part-time
Estimated Number of jobs retained at this location: 0 full-time, 0 part-time
Estimated Number of employees in Cook County: 12 full-time, 0 part-time
Estimated Number of construction jobs: 3-6
Proposed use of property: Industrial-Manufacturing, warehousing, 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
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Business and Economic January 18, 2017
Development Committee
NOTICE AND AGENDA - Draft
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 : 12/14/16 - Board of Commissioners - refer to the Economic Development, Burea
17-0469
Sponsored by: TONI PRECKWINKLE (President) and JEFFREY R. TOBOLSKI, Cook County Board
of Commissioners
PROPOSED RESOLUTION
MICHAEL A. MARTIN AND ROBERT J. TALERICO 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: Michael A. Martin and Robert J. Talerico
Address: 7224 West 60th Street, Summit, Illinois 60501
Municipality or Unincorporated Township: Summit
Cook County District: 16
Permanent Index Number: (3) PINs: 18-13-302-009-0000; 18-13-302-010-0000; 18-13-408-006-0000
Page 3 of 16
Business and Economic January 18, 2017
Development Committee
NOTICE AND AGENDA - Draft
Municipal Resolution Number: Ordinance 16-O-16 approved September 1, 2016
Number of month property vacant/abandoned: 9 months at time of application to BED
Special circumstances justification requested: Yes
Estimated Number of jobs created by this project: 35 full-time, 0 part-time
Estimated Number of jobs retained at this location: 0 full-time, 0 part-time
Estimated Number of employees in Cook County: 210 full-time, 0 part-time
Estimated Number of construction jobs: 50
Proposed use of property: Industrial-bakery manufacturing and warehousing
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
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Business and Economic January 18, 2017
Development Committee
NOTICE AND AGENDA - Draft
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 : 12/14/16 - Board of Commissioners - refer to the Business and Economic Develo
17-0491
Sponsored by: TONI PRECKWINKLE (President) and JOHN P. DALEY, Cook County Board of
Commissioners
PROPOSED RESOLUTION
920 VENTURE LLC OR ITS ASSIGNEE 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: 920 Venture LLC or its Assignee
Address: 920 West Pershing Road, Chicago, Illinois 60609
Municipality or Unincorporated Township: Chicago
Cook County District: 11
Permanent Index Number: 17-32-421-007-0000
Municipal Resolution Number: City of Chicago Resolution, approved 7/20/2016
Number of month property vacant/abandoned: 14 months at time of application to BED
Special circumstances justification requested: Yes
Estimated Number of jobs created by this project: 30 full-time, 0 part-time
Estimated Number of jobs retained at this location: 0 full-time, 0 part-time
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Business and Economic January 18, 2017
Development Committee
NOTICE AND AGENDA - Draft
Estimated Number of employees in Cook County: 106
Estimated Number of construction jobs: 25
Proposed use of property: Industrial-warehousing
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
Page 6 of 16
Business and Economic January 18, 2017
Development Committee
NOTICE AND AGENDA - Draft
Legislative History : 12/14/16 - Board of Commissioners - refer to the Business and Economic Develo
17-0517
Sponsored by: TONI PRECKWINKLE (President) and EDWARD M. MOODY, Cook County Board
of Commissioners
PROPOSED RESOLUTION
15300 SOUTH CICERO AVE. INC. CLASS 8 PROPERTY TAX INCENTIVE REQUEST
WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real
Property Assessment Classification 8 application containing the following information:
Applicant: 15300 South Cicero Ave Inc.
Address: 15300 South Cicero Avenue, Oak Forest, Illinois
Municipality or Unincorporated Township: Village of Oak Forest
Cook County District: District 6
Permanent Index Number: 28-16-2085-0000
Municipal Resolution Number: Village of Oak Forest Resolution No. 2016-06-0291R
Number of month property vacant/abandoned: 19 months vacant
Special circumstances justification requested: Yes
Estimated Number of jobs created by this project: Two (2) full-time and two (2) part-time jobs
Estimated Number of jobs retained at this location: None
Estimated Number of employees in Cook County: 30 full-time and 30 part-time jobs
Estimated Number of construction jobs: Four (4) construction jobs
Proposed use of property: Commercial use Showroom room and Business Resource Center
Living Wage Ordinance Compliance Affidavit Provided: Not applicable
WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment
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Business and Economic January 18, 2017
Development Committee
NOTICE AND AGENDA - Draft
Classification 8 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 more than 24 continuous
months, there has been no purchased for value by a purchaser and the property is in need of substantial
rehabilitation; 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 8; and
WHEREAS, in the case of abandonment of over 24 months and no purchase for value by a disinterested
buyer, the County may determine that special circumstances justify finding the property as being deemed
abandoned; and
WHEREAS, Class 8 requires a resolution by the County Board validating the property as abandoned for
the purpose of Class 8; and
WHEREAS, the municipality states the Class 8 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, commercial real estate is normally assessed at 25% of its market value, qualifying
commercial real estate eligible for the Class 8 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 8 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 8; 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 : 12/14/16 - Board of Commissioners - refer to the Business and Economic Develo
17-0518
Sponsored by: TONI PRECKWINKLE (President) and PETER N. SILVESTRI, Cook County Board of
Commissioners
PROPOSED RESOLUTION
Page 8 of 16
Business and Economic January 18, 2017
Development Committee
NOTICE AND AGENDA - Draft
HUDSON AVENUE CAPITAL, 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: Hudson Avenue Capital, LLC
Address: 3999 N. 25th Avenue, Schiller Park, Illinois
Municipality or Unincorporated Township: Village of Schiller Park
Cook County District: District 9
Permanent Index Number: 12-21-201-007-0000
Municipal Resolution Number: Village of Schiller Park Resolution No. 17-16
Number of month property vacant/abandoned: 14 months vacant
Special circumstances justification requested: Yes
Estimated Number of jobs created by this project: 12 full-time jobs
Estimated Number of jobs retained at this location: 28 full-time jobs
Estimated Number of employees in Cook County: Same as retained
Estimated Number of construction jobs: 15-25 construction jobs
Proposed use of property: Manufacturing, 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
Page 9 of 16
Business and Economic January 18, 2017
Development Committee
NOTICE AND AGENDA - Draft
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 : 12/14/16 - Board of Commissioners - refer to the Business and Economic Develo
17-0519
Sponsored by: TONI PRECKWINKLE (President) and GREGG GOSLIN, Cook County Board of
Commissioners
PROPOSED RESOLUTION
HUNTER FOUNDRY MACHINERY CORPORATION CLASS 6B SUSTAINABLE
EMERGENCY RELIEF (SER)
WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real
Property Assessment Classification 6b Sustainable Emergency Relief (SER) application containing the
following information:
Applicant: Hunter Foundry Machinery Corporation
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Development Committee
NOTICE AND AGENDA - Draft
Address: 2222 Hammond Drive, Schaumburg, Illinois
Length of time at current location: 47 Years
Length of time property under same ownership: 47 Years
Is there evidence supporting 10 years of the same ownership and/or occupancy (tenancy): Yes
Age of the Property (Building): 48 Years
Municipality or Unincorporated Township: Village of Schaumburg
Cook County District: District 14
Permanent Index Number(s): 02-34-300-019-0000
Municipal Resolution Number: Village of Schaumburg Resolution No. R-16-075
Evidence of Economic Hardship: Yes
Number of blighting factors associated with the property: Three (3) Dilapidation; Obsolescence and
Deterioration
Has justification for the Class 6b SER program been provided?: Yes
Estimated # of jobs created by this project: Five (5) full time jobs
Estimated # of jobs retained at this location: 44 full-time jobs
Estimated # of employees in Cook County: Same as retained
Estimated # of construction jobs: To be determined
Proposed use of property: Industrial - Manufacturing: Manufacturing
Living Wage Ordinance Compliance Affidavit Provided: Yes
WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment
Classification 6b Sustainable Emergency Relief (SER) that provides an applicant a reduction in the
assessment level for a long-term existing industrial enterprise that meets the qualifications of the SER
program ; and
WHEREAS, the Cook County Classification System for Assessment requires that an applicant under the
Class 6b SER program provide evidence justifying their participation in the subject program; and
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Business and Economic January 18, 2017
Development Committee
NOTICE AND AGENDA - Draft
WHEREAS, Class 6b SER requires a resolution by the County Board validating the property for the
purpose of the Class 6bSER Program; and
WHEREAS, the industrial enterprise that occupies the premises has been at the same location for a
minimum of ten years prior to the date of the application for the Class 6b SER Program;
WHEREAS, the industrial enterprise that occupies the premises has submitted evidence of economic
hardship to the Cook County Bureau of Economic Development supporting a determination that
participation in the Class 6b SER Program is necessary for the industrial enterprise to continue its
operations at its current location and maintain its staff, and without the Class 6b SER the industrial
enterprise would not be economically viable causing the property to be in imminent risk of becoming
vacant and unused; and
WHEREAS, the applicant is not receiving another Cook County Property Tax Incentive for the same
property; and
WHEREAS, the municipality states the Class 6b SER is necessary for the industrial enterprise to
maintain is operations on this specific real estate. The municipal resolution cites the qualifications of
this property to meet the definition of the Class 6b SER program; and
WHEREAS, industrial real estate is normally assessed at 25% of its market value, qualifying industrial
real estate eligible for the Class 6b SER can receive a significant reduction in the level of assessment
from the date that the application is approved by the Cook County Assessor. Properties receiving Class
6b SER will be assessed at 10% of the market value for 10 years, 15% for the 11th year and 20% in the
12th year; and
WHEREAS, the applicant understand that the Class 6b SER classification is not renewable and also the
applicant vacates the specific real estate while the Class 6b SER is in place the designation will
terminate and the assessment level will immediately revert back to the 25% assessment level; 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
meets the requirements of the Class 6bSER Program; 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 : 12/14/16 - Board of Commissioners - refer to the Business and Economic Develo
17-0521
Sponsored by: TONI PRECKWINKLE (President) and STANLEY MOORE, Cook County Board of
Commissioners
PROPOSED RESOLUTION
Page 12 of 16
Business and Economic January 18, 2017
Development Committee
NOTICE AND AGENDA - Draft
LANSING HOLDINGS LLC CLASS 8 PROPERTY TAX INCENTIVE REQUEST
WHEREAS, the Cook County Bureau of Economic Development received and reviewed a Real
Property Assessment Classification 8 application containing the following information:
Applicant: Lansing Holdings LLC
Address: 17425 Torrence Avenue, Lansing, Illinois
Municipality or Unincorporated Township: Village of Lansing
Cook County District: District 4
Permanent Index Number: 30-30-305-036-0000
Municipal Resolution Number: Village of Lansing Resolution No. 971
Number of month property vacant/abandoned: Five (5) months vacant
Special circumstances justification requested: Yes
Estimated Number of jobs created by this project: 20 full-time jobs
Estimated Number of jobs retained at this location: None
Estimated Number of employees in Cook County: None
Estimated Number of construction jobs: 25-35 construction jobs
Proposed use of property: Commercial retail
Living Wage Ordinance Compliance Affidavit Provided: Not applicable
WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment
Classification 8 that provides an applicant a reduction in the assessment level for an abandoned
commercial 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
Page 13 of 16
Business and Economic January 18, 2017
Development Committee
NOTICE AND AGENDA - Draft
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 8; 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 8 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 8 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, commercial real estate is normally assessed at 25% of its market value, qualifying
commercial real estate eligible for the Class 8 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 8 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 8; 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 : 12/14/16 - Board of Commissioners - refer to the Business and Economic Develo
17-0293
Sponsored by: JESÚS G. GARCÍA, Cook County Board of Commissioners
PROPOSED ORDINANCE AMENDMENT
TAX INCENTIVE ORDINANCE AMENDMENT
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, Sec. 74-60 through 74-73 of the Cook County Code is hereby amended as follows:
Sec. 74-60. - Short title.
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Business and Economic January 18, 2017
Development Committee
NOTICE AND AGENDA - Draft
Sec. 74-61. - Purpose.
Sec. 74-62. - System established; terms defined.
Sec. 74-63. - Assessment classes.
Sec. 74-64. Market value percentages.
Sec. 74-65. - Qualifications for commercial development project status.
Sec. 74-66. Property in two or more classes.
Sec. 74-67. - Assessor's status and progress report.
Sec. 74-68. Classification system to apply with tax assessment year.
Sec. 74-69. - Applicable assessment level.
Sec. 74-70. - Class 8a and 8b designation/assessment class.
Sec. 74-71. - Definition. Laws regulating the payment of wages.
Sec. 74-73 Revocation or cancellation of incentive classification.
Secs. 74-752. - Compliance with Laws.
Sec. 74-743. - Revocation or cancellation of incentive classification.
Effective date: This ordinance shall be in effect immediately upon adoption.
COMPLETE ORDINANCE CAN BE FOUND AT:
Legislative History : 12/14/16 - Board of Commissioners - refer to the Business and Economic Develo
Secretary
Page 15 of 16
Business and Economic January 18, 2017
Development Committee
NOTICE AND AGENDA - Draft
Chairman: Garcia
Vice-Chairman: Moody
Members: Arroyo, Butler, Gainer, Moore, Morrison, Schneider and Steele
Page 16 of 16
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