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Home My WebLink About18-131 State of Illinois) County of Kane) ss City of Elgin ) CERTIFICATE OF CITY CLERK I, Kimberly Dewis, DO HEREBY CERTIFY that I am t e duly qualified City Clerk of the City of Elgin, in the Counties of Kane and Cook in the State of Illinois, and that as such City Clerk I am the keeper and custodian of the files and records of s id City of Elgin and the seal thereof. I I DO FURTHER CERTIFY that the attached is a full,true, and correct copy of: RESOLUTION NO. 18-131 DETERMINING THAT CERTAIN REAL ESTATE LO1 ATED AT 1600 SHALES PARKWAY(1451 SHELDON DRIVE) IS APPROPRIA E FOR CLASS 6B COOK COUNTY REAL PROPERTY ASSESSMENT I LASSIFICATION (TKMS II, LLC) passed by the Elgin City Council at its legally convened meetin_ held on December 5, 2018. In Witness Whereof, I have hereunto set my hand and a fixed the corporate seal of the City of Elgin at the said City in the County and State aforesaid his December 6, 2018. w�h�- e. L} a,,�-.6,-34 2,-., `� s,e Cit Cl- k 0*74-11 F pe, , '' gy pp '` t ' 4;[ This intrunient prepared by: Re urn to: William A. Cogley Ki berly Dewis Corporation Counsel E1 in City Clerk City of Elgin 15 Dexter Court 150 Dexter Court E1 in, IL 60120 Elgin,IL 60120 Resolution No. 18-131 RESOLUTION DETERMINING THAT CERTAIN REAL ESTATE L CATED AT 1600 SHALES PARKWAY (1451 SHELDON DRIVE) IS APPROPRI TE FOR CLASS 6B COOK COUNTY REAL PROPERTY ASSESSMEN CLASSIFICATION (TKMS II, LLC) WHEREAS, TKMS II, LLC (the "Applicant") has aplplied for or is applying for a Class 6b Cook County Real Property Assessment Classification for the property located at 1600 Shales Parkway (1451 Sheldon Drive), Cook County, Illinois, consisting of Permanent Index Number 06-20-300-020-0000 as further described in the legal description attached hereto as Exhibit "A" and made a part hereof(the "Property"); and WHEREAS, the Property is a vacant and unimproved parcel consisting of 37.92 acres of total land area; and WHEREAS, the Applicant has applied for or is appl ing for a Class 6b property status for the Property based on new construction for industrial use consisting of a new approximately 477,000 square foot industrial building for warehousing and d'stribution on the Property; and WHEREAS, the City of Elgin has received and filed the Applicant's Economic Disclosure Statement as defined by Cook County Ordinance. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS, that it hereby finds and determines hat the Property is appropriate for classification 6b under the Cook County Real Property Asses ment Classification Ordinance. BE IT FURTHER RESOLVED that the City of Elgin supports and consents to the Class 6b Cook County Real Property Assessment Classification for the Property based on new construction for industrial use. BE IT FURTHER RESOLVED that the City of Elgin finds that the Class 6b Classification is necessary for development to occur on the Prpperty. BE IT FURTHER RESOLVED THAT THE City Cle k be and is hereby authorized and directed to furnish the Office of the Cook County Assesso with two certified copies of this resolution. s/ David J. Kaptain David J. Kaptain, Mayor Presented: December 5, 2018 Adopted: December 5, 2018 Omnibus Vote: Yeas: 8 Nays: 0 Attest: s/Kimberly Dewis Kimberly Dewis, City Clerk EXHIBIT A LEGAL DESCRIPTIO THAT PART OF THE LAND FALLING WITHIN THAT PART OF SECTION 20, TOWNSHIP 41 NORTH, RANGE 9, EAST OF T ID THIRD PRINCIPAL MERIDIAN, DESCRIBED AS COMMENCING AT A POINT IN T I CENTER LINE OF U.S. ROUTE 20 WHERE THE EAST LINE OF THE WEST 1/2 0 THE SOUTHWEST 1/4 OF SAID SECTION 20 INTERSECTS SAID CENTER LINE; T II NCE SOUTHEASTERLY ALONG SAID CENTER LINE 52.40 FEET TO THE EASTE ' Y LINE OF A TRACT OF LAND CONVEYED TO PUBLIC SERVICE COMPANY OF 'ORTHERN ILLINOIS (NOW THE COMMONWEALTH EDISON COMPANY) BY 1 OCUMENT 9542306; THENCE NORTHERLY ALONG SAID EASTERLY L I , 114.22 FEET; THENCE NORTHEASTERLY ALONG SAID EASTERLY LINE '6.81 FEET TO THE NORTHERLY LINE OF A TRACT OF LAND DEDICATED OR HIGHWAY PURPOSES BY DOCUMENT 17993033; THENCE SOUTHEASTERLY ; ONG SAID NORTHERLY LINE, 41.55 FEET TO A LINE 40.0 FEET EASTERLY OF, AS MEASURED AT RIGHT ANGLES THERETO, AND PARALLEL WITH THE EASTERLY LINE OF LANDS CONVEYED BY DOCUMENT 9542306; THENCE NORTH 02 DEG ' I ES, 44 MINUTES, 50 SECONDS EAST, ALONG SAID EASTERLY LINE TO A POINT ON THE NORTH RIGHT OF WAY LINE OF SHALES PARKWAY, 411.91 FEET TO THE OINT OF BEGINNING; THENCE NORTH 02 DEGREES, 44 MINUTES, 50 SECONDS E. ST, CONTINUING ALONG SAID EASTERLY LINE, 1314.98 FEET TO THE SOUTHERL, LINE OF LOT "C" IN SECTION 20, ACCORDING TO THE PLAT FILED WITH THE COMMISSIONER'S REPORT IN PARTITION OF CASE NO. 19700 IN THE CIRCUI COURT OF COOK COUNTY, ILLINOIS; THENCE SOUTH 84 DEGREES, 42 MINU ES, 05 SECONDS EAST, ALONG SAID SOUTH LINE OF LOT "C", 1563.43 FEET TO T I WESTERLY RIGHT OF WAY LINE OF THE ELGIN, JOLIET AND EASTERN R• ILROAD; THENCE SOUTH 07 DEGREES, 06 MINUTES, 36 SECONDS WEST, ALO G SAID RIGHT OF WAY LINE, 954.48 FEET; THENCE NORTH 82 DEGREES, 54 MIN I TES, 11 SECONDS WEST, 924.90 FEET; THENCE SOUTH 07 DEGREES, 03 MINUTES, $0 SECONDS WEST, 18.47 FEET; THENCE NORTH 82 DEGREES, 54 MINUTES, 11 SECONDS WEST, 67.88 FEET; THENCE SOUTH 07 DEGREES, 05 MINUTES, 48 SEC I NDS WEST; 300.00 FEET TO A POINT OF CURVATURE; THENCE SOUTHWEST RLY ALONG THE ARC OF CIRCLE, BEING CONVEX SOUTHEASTERLY AND IAVING A RADIUS OF 173.24.AN ARC DISTANCE OF 106.34 FEET TO A POINT OF T GENCY; THENCE SOUTH 42 DEGREES, 16 MINUTES, 04 SECONDS WEST, 1.9.35 FEET TO A POINT OF CURVATURE; THENCE SOUTHWESTERLY ALON AN ARC OF CIRCLE, BEING CONVEX SOUTHEASTERLY AND HAVING A R• 1 IUS OF 75.00 FEET, AN ARC DISTANCE OF 113.90 FEET (THE CHORD OF WHICH BEARS SOUTH 85 DEGREES, 45 MINUTES,55 SECONDS WEST, 103.26 FEET) TO A PO'NT OF CURVATURE; THENCE NORTHWESTERLY ALONG AN ARC OF A CIRCLE, BEING CONVEX SOUTHWESTERLY AND HAVING A RADIUS OF 341.51 FEET, AN ARC DISTANCE OF 26.85 FEET (THE CHORD WHICH BEARS NORTH .3 DEGREES, 02 MINUTES, 31 SECONDS WEST, 26.84 FEET) TO A POINT OF TANGENCY; THENCE NORTH 55 DEGREES, 17 MINUTES, 38 SECONDS WEST, 270.10 FEET TO THE POINT OF BEGINNING,IN COOK COUNTY. COMMON ADDRESS: 1600 SHALES PARKWAY, ELGIN, ILLINOIS 60120 PIN: 06-20-300-020-0000 12 Year Tax Estimates 1600 Shales Parkway Elgin,Illinois 60120 Estimated Taxes Based on:Estimated Market Value Estimated Taxes Based on:Estimated Market Value deterrni x0 by the projected sale price of determined by the projected sale price of approxmatley Estimated Taxes Based on:Estimated Market Value determined by Estimated Taxes Based on:Estimated Market Value determined by the approximatie $30,000,000,and NO Class 6h Tax 30,000,000,NO Class 69 Tax Incentive&100%vacancy the projected sale price of approximatley$30,000,000,and a fib projected sale price of approxlmatley$30,000,000,and NO 6b applied Incentive (20%Occupancy Factor Applied to the projected Building incentive applied. (Kane County) Assessed Value of$27,508,340) Estimated COON Exlmted COUNTY Avmt Level Mime.Armed Unmated To. t EOlmed Mame. EYImeted Ta Yr or ...moment Etinted Mead AvetlVtue esn 2017 Effective Tao EtM,ted MOM WNhxO IC* Value Without• WRhout a Clam Amentia LM Value WNhouta Without.Cie prop..]New Late)with Vau.Wllnout• Etlm*led Tee. Text Propos Asvrr,t Lea WRhout a Cit. Epinutot Tam Tot Yr 21117 Tat Rte Murbp,. Rte v.. t Clamt t Current Monk Value Met•Clet clef t Estimated Melts Value cots. Claw.13 Llet WNh OCIet Eulmted Muret Value New Incas. WRN NO Clam 50 t WRh•Clet — 2020 11.432% 29627 33870% 030,000,000 25% $7,500,000 $2,540,219 _ $7,993,328 25% $1,998,332 $676,827 _ $30,000,000 1st 10% $3,000,000 $1,016,088 $30,000,000 1st 33% $9,999,000 01,005,087 2021 11.432% 2.9627 33.870% $30,000,000 25% $7,500,000 $2,540,219 $7,993,328 25% $1,998,332 $676,827 _ $30,000,000 2nd 10% 03.000,000 $1,016,088 $30,000,000 2nd 33% $9,999,000 $1,005,087 2022 11432% 2.9627 33.870% $30,000,000 25% $7,500,000 $2,540,219 _ $7,993,328 25% $1,998,332 $676,627 _ $30,000,000 3rd 10% $3,000,000 $1,016,088 $30,000,000 3rd 33% $9,999,000 $1,005,087 — 2023 11.432% 29627 33870% $30,000,000 25% $7,500,000 $2,540,219= $7,993,328 25% $1,998,332 $676,827 $30,000,000 4th 10% $3,000,000 $1,016,088 $30,000,000 4th 33% $9,999,000 $1,005,067 2024 11432% 2.9627 33.870% $30.000,000 25% $7,500,000_ $2,540,219 $7,993,328 25% $1,998,332 $676,827 _ $30,000,000 5th 10% $3,000,000 $1,016,088 $30,000,000 5th 33% $9,999,000 $1,005,087 2025 11432% 29627 33.870% $30,000,000 25% $7,500,000 $2,540,219` $7,993,328 25% $1,998,332 $676,827 _ $30,000.000 6th 10% $3,000,000 $1,016,088 $30,000,000 6th 33% $9,999.000 $1,005,087 2026 11432% 29627 33870% $30,000,000 25% , $7,500,000 $2,540,219 $7,993,328 25% $1,998,332 $676,827 _ $30,000,000 7th 10% 03,000,000 $1,016,088 $30,000,000 7th 33% $9,999,000 $1,005,087 2027 11.432% 2.9627 33.870% $30,000,000 25% $7,500,000 $2,540,219 $7,993,328 — 25% $1,998,332 $676,827 _ $30,000,000 8th 10% 53.000,000 01,016,088 $30,000,000 8th 33% $9,999,000 $1,005,087 2028 11.432% 2,9627 33.870% $30,000,000 25% $7,500,000 $2,540,219 _ $7,993,328 25% $1,998,332 $676,827 _ $30,000.000 9th 10% $3,000,000 01,016,088 $30,000,000 9th 33% $9,999,000 $1,005,087 2029 11432% 29627 33870% $30,000,000 25% $7,500,000 52,540,219 $7,993,328 25% $1,998,332 $676,827 $30,000,000 10th 10% $3.000,000 $1,016,088 $30,000,000 10th 33% $9,999,000 $1,005,087 2030 11.432% 2.9627 33870% $30,000,000 25% $7,500,000 $2,540,219 $7.993,328 25% $1,998,332 $676,827 2 $30,000,000 11th 15% $4,500,000 $1,524,131 $30,000,000 11th 33% $9,999,000 $1,005,087 2031 11432% 29627 33870% $30,000,000 25% $7,500,000 32,540,219 $7,993,328 25% $1,998,332 $676,827 $30,000,000 12th 20% $6,000,000 02,032,175 $30,000,000 12th 33% $9,999,000 31,005,087 Total Estimated Taxes(2020 to 2031) $30,482,628 Total Estimated Taxes(2020 to 2031) $8,121,921 Total Estimated Taxes(2020 to 2031) $13,717,182 Total Estimated Taxes(2020 to 2031) $12,061,039 21 11.18 Page 1 ell