Elk Grove Village AgendaPacket Regular Village Board Meeting 2026-05-26
Village Backs Class 6B Tax Incentive for Arthur Avenue Property
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Description
Elk Grove Village will issue a Letter of Receipt supporting AG - MVP Arthur Avenue Owner, LLC’s application for a Class 6B property tax exemption on the industrial facility at 1949–1951 Arthur Avenue. The 12-year incentive is contingent on more than $1 million in building and site improvements.
Contract Details
Vendor
AG - MVP ARTHUR AVENUE OWNER LLC
Agency
Elk Grove Village village (pt.), IL
Contract Type
FINANCIAL_SERVICES
Document Date
May 26, 2026
Contract Term
Class 6B tax incentive for 12-year period
Renewal Info
Class 6B assessment schedule runs 12 years at reduced levels (10% for 10 years, then 15% and 20%); continuation beyond this term would require separate action under Cook County rules.
Issuing Agency
Elk Grove Village village (pt.)
City
Elk Grove Village village (pt.), IL
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