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Cook County Board of Commissioners Business and Economic Development Committee met April 16

ATTENDANCE 

Present: Anaya, Britton, Lowry, Miller, Moore, Morita, and K. Morrison (7)

Absent: Gainer and S. Morrison (2) excused 

PUBLIC TESTIMONY 

Vice-Chair Anaya asked the Secretary to the Board to call upon the registered public speakers, in accordance with Cook County Code. 

No public speakers. 

24-2641 

COMMITTEE MINUTES 

Approval of the minutes from the meeting of 03/12/2024 

A motion was made by Commissioner Britton, seconded by Commissioner Lowry, to approve 24-2641. The motion carried by the following vote: 

Ayes: Anaya, Britton, Lowry, Miller, Moore, Morita, and K. Morrison (7) Absent: Gainer and S. Morrison (2) 

24-1873 

Sponsored by: TONI PRECKWINKLE (President) and DONNA MILLER, Cook County Board Of Commissioners 

PROPOSED RESOLUTION 

MAC Asset Management, 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: MAC Asset Management, LLC 

Address: 7575 W. 79th Street, Bridgeview, Illinois  

Municipality or Unincorporated Township: Village of Bridgeview  

Cook County District: 6th District  

Permanent Index Number: 18-36-201-003-0000 

Municipal Resolution Number: Village of Bridgeview, Ordinance No. 22-17 

Number of month property vacant/abandoned: Two (2) months vacant  

Special circumstances justification requested: Yes  

Proposed use of property: Industrial use -distribution and logistics 

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 

A motion was made by Commissioner K. Morrison, seconded by Commissioner Britton, to recommend for approval 24-1873. The motion carried by the following vote: 

Ayes: Anaya, Britton, Lowry, Miller, Moore, Morita, and K. Morrison (7) Absent: Gainer and S. Morrison (2) 

24-1874 

Sponsored by: TONI PRECKWINKLE (President) and KEVIN B. MORRISON, Cook County Board Of Commissioners 

PROPOSED RESOLUTION 

Ideal Greenleaf 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: Ideal Greenleaf LLC 

Address: 1400 Greenleaf Avenue, Elk Grove Village, Illinois 

Municipality or Unincorporated Township: Elk Grove Village 

Cook County District: 15th District 

Permanent Index Number: 08-34-205-018-0000 

Municipal Resolution Number: Village of Elk Grove, Resolution 7-21 

Number of month property vacant/abandoned: One (1) month vacant  

Special circumstances justification requested: Yes  

Proposed use of property: Industrial use - warehousing, manufacturing, 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 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 

A motion was made by Commissioner K. Morrison, seconded by Commissioner Britton, to recommend for approval 24-1874. The motion carried by the following vote: 

Ayes: Anaya, Britton, Lowry, Miller, Moore, Morita, and K. Morrison (7) Absent: Gainer and S. Morrison (2) 

ADJOURNMENT 

A motion was made by Commissioner Miller, seconded by Commissioner Lowry, to adjourn the meeting. The motion carried by the following vote: 

Ayes: Anaya, Britton, Lowry, Miller, Moore, Morita, and K. Morrison (7) Absent: Gainer and S. Morrison (2)

https://cook-county.legistar.com/View.ashx?M=A&ID=1190223&GUID=21D5E461-5C6D-431E-96EB-531887915417