Cook County Business and Economic Development Committee Agenda September 2023
Class 6b tax incentive for Builders Chicago Corp
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Description
Cook County is considering approval of a Class 6b property tax incentive for Builders Chicago Corp in Elk Grove Village, based on a special-circumstances abandonment finding. The measure would significantly lower the property’s assessment for up to 12 years to facilitate industrial reuse.
Contract Details
Vendor
BUILDERS CHICAGO CORP
Agency
Cook County, IL
Contract Type
FINANCIAL_SERVICES
Document Date
September 12, 2023
Contract Term
10 years at 10%, 11th year at 15%, 12th year at 20% assessment level
Renewal Info
Initial Class 6b incentive; standard Class 6b program terms apply, with no renewal rights indicated in the resolution text.
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