Village of Franklin Park Economic Development Commission met May 26.
Here are the minutes provided by the commission:
The meeting began at 8:01 A.M.
MEMBERS PRESENT: Bill Geary, Tom Herbstritt, Michael Giannelli, Frank Cangelosi, and Giuliano Petrucci
MEMBERS ABSENT: Sixto Rincon and Kirk Allen
ALSO PRESENT: John Schneider – Community Development Director, Nicholas Walny – Senior Planner, Rudolph Repa - Village Planner, Joe Montana – Village Attorney, Steve Hugh – Superior Franklin Park LLC
MOTION TO ACCEPT minutes from the March 24, 2022 meeting made by Michael Giannelli SECONDED by Tom Herbstritt. VOICE VOTE CARRIED.
Old Business: none
New Business: Discussion on and consideration of a 6b real estate tax assessment application by Superior Franklin Park LLC for the property located at 9301 King Ave.., Franklin Park, IL 60131
Mr. Hugh opened the discussion by introducing himself. He is the owner of Superior Franklin Park LLC. He is requesting a resolution for a 6b property tax assessment based on occupation of an abandoned property for the property located at 9301 King Ave.
Mr. Hugh began by stating that he has been looking for a home for his company over the last few years. He currently has an office in Bensenville and a warehouse in Savanah, IL. He continued to by saying that the facility in Savanah is a 2.5 hour travel time and is too far away from Chicagoland. 9301 King Avenue is a good home for Superior Franklin Park LLC. His parent company is Superior Brands. They provide bathroom products for places such as Home Depot, Menards, Lowes, and more. He also partners with someone who provides kitchen products.
Mr. Hugh continued by saying that the reason why he chose the Franklin Park facility is because he is close to the airport and that Franklin Park is a business friendly town with good business philosophy. He signed a PSA with 4K King LLC. He said the place needs a lot of work and the property taxes are too high – close to 350K for 2021.
Mr. Herbstritt interjected and mentioned that someone should of fought the taxes.
Mr. Hugh replied by saying that a ministry owned the building before 4K King purchased it at a auction. They saw how bad the building was in and decided to sell.
Mr. Hugh then proceeded to go through pictures of the building in its current shape. He said the floors, ceiling, walls, and roof need a lot of attention. The roof is low and you can tell it has been abandoned for several years. However, the building is in a good location and the foundation is solid. Everything else needs to be upgraded. There is water on the floor and the roof needs immediate attention.
Mr. Geary asked what the square footage is.
Mr. Hugh responded by saying it is 97,000 SF.
Mr. Herbstritt said Mr. Hugh is getting the building for a good price.
Mr. Hugh continued by stating that the renovations far exceed the price. That’s why he is seeking a 6b tax incentive.
Mr. Herbstritt inquired about the move in date.
Mr. Hugh said that he is trying to complete renovations before winter and move in shortly thereafter. Mr. Cangelosi asked if Superior Brands does manufacturing.
Mr. Hugh responded that most of the manufacturing takes place in Vietnam. However, he is trying to bring some manufacturers to his facility in Savanah, IL. The direction is to buy American.
Mr. Hugh also said he is president of the Asia-America council.
Mr. Giannelli stated that it is a blessing for someone to move into this building but he would like to see additional details of the improvements being proposed for future 6b considerations.
MOTION TO APPROVE RECOMENDATION of the 6b incentive resolution made by Michael Giannelli.
SECONDED by Tom Herbstritt. VOICE VOTE CARRIED UNAMIOUSLY with no conditions.
Project updates from Staff: Staff gave a brief discussion on new projects happening in the Village. Report from the Mayor: none
Public Comment: none
Being no further business before the Commission, Michael Giannelli MADE A MOTION to adjourn. Frank Cangelosi SECONDED the motion. VOICE VOTE CARRIED UNANIMOUSLY.
Meeting adjourned at 8:44 A.M.
https://www.villageoffranklinpark.com/assets/1/7/MEDC20220526.pdf
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