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Home My Public Portal AboutResolution 1669 Ezu D RESOLUTION NO. 166/5 FEB 27 PM 2: 143 _,ry SCHU I Z vOOTS Olid i Y CLERK RESOLUTION OF THE PRESIDENT and BOARD OF TRItfi1 JI Ere'PO1 TILLAGE OF PLAINFIELD,WILL AND KENDALL COUNTIES, ILLINOIS, PROVIDING FOR A TAX ABATEMENT FOR CERTAIN INDUSTRIAL PROPERTY NEWLY LOCATED WITHIN THE VILLAGE OF PLAINFIELD (COIL PLUS OF ILLINOIS) BE IT RESOLVED, by the Village President and Board of Trustees, Village of Plainfield, an Illinois Corporation, Will and Kendall Counties, as follows: Section 1 — Eligibility for Abatement: Based on the information as outlined in this aforesaid Resolution the Village of Plainfield has determined that the real estate described on the attached Exhibit 1 (the "Property"), including the improvements (the "Improvements") to be constructed thereon by the corporation known as Coil Plus of Illinois. (or any successor thereto; collectively "Coil Plus"), qualifies for tax abatement under Section 18-165 of the Illinois Compiled Statutes, 35 ILCS 200/18-165. The Improvements are to include the development of the following on the Property: (i) a new 76,000 square addition to their existing facility located on Coil Plus Drive. Section 2 — Abatement Direction to County Clerk: The County Clerk of Will County is hereby ordered to abate, in accordance with the terms and provisions of this Resolution, a portion of the Village's taxes related to the Improvements for five (5) consecutive years (the "Abatement Period"), beginning within thirty (30) days from the date that the Village of Plainfield issues its final certificate of occupancy for the Improvements, with said taxes being collectible in the following calendar year. It shall be the responsibility of Coil Plus to provide the Village of Plainfield's Finance Director a copy of said final certificate of occupancy within thirty (30) days after its issuance and Coil Plus shall only be entitled to the abatement set forth in this Resolution if it fulfills this responsibility. Within thirty (30) days after receipt of a copy of said certificate of occupancy from Coil Plus, the Finance Director shall issue a letter of direction to the County Clerk of Will County ordering the abatement provided for in this Resolution. Said letter shall specify the initial tax year for which this abatement is to take effect. Section 3 — Amount of Abatement: Unless modified or terminated as provided in Sections 4 through 8 below, the portion of the Village's taxes related to the Improvements to be abated will be fifty percent (50%) of the real estate taxes extended on the Improvements for each tax year of the Abatement Period. Section 4 — Base EAV: This Resolution has been premised on an initial Equalized Assessed Valuation ("EAV") of the Improvements after completion of at least $1,598,400.00. If the EAV of the Improvements for any year of the Abatement Period is less than $1,598,400.00, the amount of the Village's abatement shall be decreased by an amount sufficient to yield to the Village's the taxes it would have received under this Resolution had such EAV for that year been $1,598,400.00. Section 5 — Waiver of Tax Objections-Valuation Cases: In consideration for the abatement provided herein, Coil Plus agrees that it shall not file any tax rate objection(s) concerning the Improvements against the Village for any tax year during the Abatement Period. In the event of any such challenge by Coil Plus, the Village may take all necessary action to terminate this abatement. If this Section is violated, Coil Plus shall repay to the Village any abatement for the year in question, or if no such abatement has been effected in that year, any abatement for the year immediately prior to the year in question. In addition, to the extent Coil Plus pursues assessment appeals at the Illinois Property Tax Appeals Board, in the circuit court where the Property is located or through the issuance of certificates of error, any refund issued to Coil Plus pursuant to such a claim shall be credited to the Village against the abatement. Section 6 — Future Year Carry-Over: An abatement reduction under this Resolution may occur in full or in part in any later year as necessary if the full abatement reduction cannot be effected for the tax year for which the abatement reduction is intended. If an abatement reduction cannot be effected because the Abatement Period has ended or if an abatement repayment is due under Sections 4, 5 or 7 above, Coil Plus shall pay to the Village the amount of the abatement reduction or repayment no later than thirty (30) days after receipt of written notice from the Village to do so. Section 7 —Coil Plusi Obligations: In the event that Coil Plus substantially terminates operations at the Property during the term of this abatement, then this abatement shall terminate, and the Village shall immediately direct the County Clerk to cease this abatement. In addition, if such a termination of operations occurs at any time during the term of this abatement and Coil Plus substantially continues the business operations at a location outside the corporate boundaries of the Village, then Coil Plus shall be obligated to repay the Village an amount equal to the aggregate amount of property taxes abated by the County Clerk for the Improvements during the abatement period less the aggregate amount of donations previously made by Coil Plus pursuant to Section 6 hereof, provided that Coil Plus's repayment obligation under this paragraph shall not take effect if the termination of operations is due to fire or other casualties to the Property. Section 8—Binding Effect: This Resolution shall be in full force and effect upon execution of the aforesaid agreement. The acceptance by Coil Plus shall bind its successors and assigns as to all or any portion of the Property and constitute a waiver of, and covenant not to sue, any claim against the Village or its employees and agents relating to the abatement, except for the Village's failure to comply with the terms and conditions of this Resolution. The decision by a court of competent jurisdiction that any portion of this Resolution is unlawful, void or unenforceable shall result in termination of the whole abatement as to the Property. Section 9 — Filing with County Clerk: The Village Clerk is hereby directed to send a certified copy of this resolution to the County Clerk of Will County at such time as the resolution becomes effective. Section 10 — Authority of Village President: The Village President is hereby directed and authorized to take any and all action necessary to effectuate the terms and provisions of this Resolution. ADOPTED 6th day of May, 2013, by a roll call vote as follows: YES: Peck, Racich, Rippy, Bonuchi, Fay, Lamb NO: None ABSENT: None 7 J via keitzvi Village President Village Clerk EXHIBIT A DESCRIPTION OF THE PROPERTY Legal description for PIN No. 06-03-04-300-013-0000 That Part Of The East Half Of The Southwest Quarter Of Section 4, Township 36 North, Range 9 East Of The Third Principal Meridian, In Will County, Illinois, Described As Follows: Commencing At The Southwest Corner Of The East Half Of The Southwest Quarter Of Said Section 4 And Running North A Distance Of 50 Feet Along The West Line Of The East Half Of The Southwest Quarter Of Said Section 4 To A Point Of Beginning; Thence East A Distance Of 83 Feet On A Line Parallel With The South Line Of The Southwest Quarter Of Said Section 4; Thence North A Distance Of 1030.00 Feet Along A Line Parallel With The West Line Of Said East Half Of The Southwest Quarter Of Section 4; Thence East Along A Line Parallel With The South Line Of Said Southwest Quarter Of Section 4 A Distance Of 667.00 Feet; Thence Northeasterly Along A Straight Line A Distance Of 705.02 Feet To A Point On The Southwesterly Line Of The Right Of Way, 80 Feet Wide, Of The Elgin, Joliet And Eastern Railway Company, Which Point Is 540 Feet, Measured Along Said Right Of Way Line Northwesterly From The Point Of Intersection Of Said Right Of Way Line With A Line 33 Feet West From And Parallel With Said North And South Centerline Of Section 4; Thence Northwesterly Along Said Right Of Way Line To A Point 333.13 Feet Southeasterly, As Measured Along Said Southwesterly Line,From Its Intersection With The North Line Of Said Southwest Quarter; Thence Northwesterly 436.19 Feet Along The Arc Of A 458.34 Foot Radius Curve Convex Northeasterly, The Chord Of Which Forms A Deflected Angle Of 35 Degrees 26 Minutes 10 Seconds To The Left Of The Last Described Line; Thence Westerly Along A Tangent Line 338.45 Feet To The Start Of A Curve Convex Northerly Having A Radius Of 390.28 Feet Thence Westerly Along Said Curve 44.53 Feet To The West Line Of The Aforesaid East Half Of The Southwest Quarter; Thence South Along Said West Line 2502.15 Feet To The Point Of Beginning; All Situated In Plainfield Township, Will County, Illinois. Will County CED Coilplus Illinois 06-03-04-300-013-0000 14023 S. Coilplus Dr Plainfield, IL • ESTIMATED REAL ESTATE PROPERTY VALUE LAND BUILDING TOTAL including Estimated Fair Market Value $949,515 $11,779,095 $12,728,610 $4,800,000 (assessment x 3) addition .06:******* i$110.'5 $3,824765; $4,141,270 .333 of fair market value (From Assessor- property PIN lookup) (fair mkt value x.333) Township Equalization Factor $316,505 $3,824,765 $4,141,270 9 County Equalization Factor $316,505 $3,824,765 $4,141,270 1 Equalized Assessed Valuation $316,505 $3,824,765 $4,141,270 43 #1 ESTIMATED TAX BILL • 2012 Land Building Total TAXING BODY Tax Rate Taxes Taxes Taxes Will County Forest Preserve 0.1859 $ 588 $ 7,110 $ 7,699 Will County Building Comm 0.0212 $ 67 $ 811 $ 878 Will County 0.5696 $ 1,803 $ 21,786 $ 23,589 Plainfield Twp Town Funds 0.0833 $ 264 $ 3,186 $ 3,450 Plainfield Twp Road Funds 0.0564 $ 179 $ 2,157 $ 2,336 Unit School District 202 5.8323 $ 18,460 $ 223,072 $ 241,531 $ - $ - $ Community College Dist. 525 0.2768 $ 876 $ 10,587 $ 11,463 Plainfield Fire 0.9216 $ 2,917 $ 35,249 $ 38,166 Plainfield Pub Lib 0.1894 $ 599 $ 7,244 $ 7,844 Village of Plainfield 0.4567 $ 1,445 $ 17,468 $ 18,913 Vil Plainfield Rd & Br 0.0563 $ 178 $ 2,153 $ 2,332 Plainfield Twp Park District 0.2433 $ 770 $ 9,306 $ 10,076 8.8928 $ 28,146 $ 340,129 $ 368,275 current taxes $206,560 General Comments: diff $ 161,715 1) This estimate is generated by the CED for the purpose of review by prospect and/or various committees, commissions,public officials,and taxing bodies. 2) Estimated tax bill is based on 2011 tax rate for taxes payable in 2012 for Tax Code 3050. Tax rates are applied per$100 of EAV. Accuracy of final tax bill to be determined by the tax assessor's office and may change without prior notice. 3) Tax abatement is applied to improvements(building only). 4/30/2013 1 of 3 Will County CED Estimated Tax Bill Projection TAX BILL WITHOUT ABATEMENTS TAXING BODY YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 Will County Forest Preserve $ 7,699 $ 7,699 $ 7,699 $ 7,699 $ 7,699 Will County Building Comm $ 878 $ 878 $ 878 $ 878 $ 878 Will County $ 23,589 $ 23,589 $ 23,589 $ 23,589 $ 23,589 Plainfield Twp Town Funds $ 3,450 $ 3,450 $ 3,450 $ 3,450 $ 3,450 Plainfield Twp Road Funds $ 2,336 $ 2,336 $ 2,336 $ 2,336 $ 2,336 Unit School District 202 $ 241,531 $ 241,531 $ 241,531 $ 241,531 $ 241,531 $ - $ - $ - $ - $ Community College Dist. 525 $ 11,463 $ 11,463 $ 11,463 $ 11,463 $ 11,463 Plainfield Fire $ 38,166 $ 38,166 $ 38,166 $ 38,166 $ 38,166 Plainfield Pub Lib $ 7,844 $ 7,844 $ 7,844 $ 7,844 $ 7,844 Village of Plainfield $ 18,913 $ 18,913 $ 18,913 $ 18,913 $ 18,913 Vil Plainfield Rd & Br $ 2,332 $ 2,332 $ 2,332 $ 2,332 $ 2,332 Plainfield Twp Park District $ 10,076 $ 10,076 $ 10,076 $ 10,076 $ 10,076 $ 368,275 $ 368,275 $ 368,275 $ 368,275 $ 368,275 TAX BILL WITH ABATEMENTS * TAXING BODY YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 Will County Forest Preserve $ 7,699 $ 7,699 $ 7,699 $ 7,699 $ 7,699 Will County Building Comm $ 878 $ 878 $ 878 $ 878 $ 878 Plainfield Twp Town Funds $ 3,450 $ 3,450 $ 3,450 $ 3,450 $ 3,450 Plainfield Twp Road Funds $ 2,336 $ 2,336 $ 2,336 $ 2,336 $ 2,336 Community College Dist. 525 $ 11,463 $ 11,463 $ 11,463 $ 11,463 $ 11,463 Plainfield Fire $ 38,166 $ 38,166 $ 38,166 $ 38,166 $ 38,166 Plainfield Pub Lib $ 7,844 $ 7,844 $ 7,844 $ 7,844 $ 7,844 ��7 �c�'-x � °.�'-'� azrE x+x a- �., T` . b z .sem- cs:s. ' ra e m1: 'a t-Tta M _ � 5 I 263 ,$ 5 2 45)4,- ViI Plainfield Rd & Br $ 2,332 $ 2,332 $ 2,332 $ 2,332 $ 2,332 Plainfield Twp Park District $ 10,076 $ 10,076 $ 10,076 $ 10,076 $ 10,076 $ 313,461 $ 313,461 $ 313,461 $ 313,461 $ 313,461 TOTAL AMOUNT ABATED PER YEAR $ 54,814 TOTAL AMOUNT ABATED FOR 5 YEARS $ 274,070 TOTAL TAXES OVER 5 YEARS -WITH ABATEMENTS $ 1,567,305 TOTAL TAXES OVER 5 YEARS -WITHOUT ABATEMENTS $ 1,841,374 TOTAL SAVINGS OVER 5 YEARS $ 274,070 *Abatements subject to approval by each individual taxing body 4/30/2013 2 of 3 Will County CED Building Addition Taxes „A $ 2,971 !',7!:„.7. $ 339 - ' $ 9,104 _ a $ 1,331 "y $ 901 $ 93,223 $ rte - 4,424 $ 14,731 $ 3,027 $ 7,300 r;$� a $ 900 $ 3,889 $142,143 $ '3 » 4/30/2013 3 of 3 Ilii[ will 1.1 •1• 111-1 l l i 111 VILLAGE OF PLAINFIELD CERTIFICATE OF OCCUPANCY AND COMPLIANCE Coil Plus Incorporated Permit Number: 2013-00000768 Permit Type: Industrial Parcel Number: 0603043000130000 This is to certify that the building and use of the property located at Lot # 0 Address 14023 S COIL PLUS DR. As appears from an inspection this day made, does comply with the provisions of the Zoning Ordinance of the Village of Plainfield and the right to occupancy as a Coil Plus Incorporated is hereby approved. DATED AT PLAINFIELD, ILLINOIS, February 03 2015 General Contractor: R.C. Wegman Construction Company 750 Morton Avenue AURORA, IL 60506 BUILDING OFFICIAL 14400 Coil Plus Drive Plainfield, IL 60544 Phone(815)439-2937 Fax(815) 609-6114 www.plainfield-il.org Michael P Collins III PRESIDENT VILLAGE OF (, l PLAINFIELD . .._ Michelle Gibas VILLAGE CLERK 15TRFEB 21 PM 2: 143 STEES Margie BBonuchi February 26, 2015 HAPICY SCFiUL1 VU01' Paul Fay COUN t Y CLERK Bill Lamb WILL COUNTY• ILLINOIS Garrett M. Peck OFFICE OF THE WILL COUNTY CLERK James Racich Attn: Nancy Schultz Voots 302 North Chicago Street Joliet, IL 60432 Re: Coil Plus of Illinois Tax Abatement Ms. Voots: Enclosed please find certified Resolution No. 1669 and a copy of the final certificate of occupancy for Coil Plus Incorporated. Per the terms of the Resolution,this letter serves as direction to begin the abatement process, beginning with the 2015 tax year. Thank you for your assistance in coordinating this matter. Should you have any questions, please contact me at 815-439-2924. Sincerely, 0 � Traci Pleckham Management Services Director 24401 W. Lockport Street Plainfield, IL 60544 Phone (815) 436-7093 Fax (815) 436-1950 Web www.plainfield-il.org