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SOUTH SUBURBAN TAX REACTIVATION PROJECT
Brownfield Summit Wednesday, April 17,
2002 1000-300 p.m.
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SSTRPOverview

• SSTRP was instituted to procure tax delinquent,
  vacant, and abandoned industrial and commercial
  properties on behalf of municipalities and return
  them to productive use.
• Pilot Program established July 2000, funded by
  DCCA and administered by Cook County Assessors
  Office.

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Overviewcontinued

• Assessor James M. Houlihan sought the funding
  resources from the State for this pilot program
  (Illinois First Program).
• Program addresses the problem of extreme economic
  distress, lost population, slowest growing
  municipal real estate tax bases, high tax rates,
  highest (62) of delinquent

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Overviewcontinued

• parcels in suburban Cook County. Targeted
  Townships Bloom, Bremen, Calumet, Rich and
  Thornton.
• Utilizes Cook Countys No Cash Bid Program, which
  is authorized under state law, to acquire tax
  delinquent parcels on behalf of municipalities
  and pays legal and other costs associated with
  the acquisitions.

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Promoting SSTRPs Mission

• Promotions via the following interactions
• Municipal Officials
• Economic Delinquent Organizations
• Internet
• Participating in Community Economic Development
  Forums
• Brochure Mailings
• Contacts with Commercial/Industrial Business
• Media Contacts

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Promoting SSTRPs Missioncontinued

• Class 8 Incentive / Little or No Cost
• Over 32 municipalities in 5 Townships
• Allies in economic development

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Planning and Identification of Project Inventory

• KPMG 3 Phase Study
• Cook Countys Tax Delinquent Property Listing

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No Cash Bid Process and Site Assemblage

• 8 Step Process
• Step 1 Determining Tax Delinquent
  Parcels for Acquisitions
• Step 2 Municipal Resolution and/or
  Agreement
• Step 3 Due Diligence
• Step 4 Additional County Due Diligence
  Cook County Board
  Considerations

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No Cash Bid Process and Site
Assemblagecontinued

• Step 5 Certificate of Purchase
• Step 6 Redemption Period
• Step 7 Property Inspection/Reporting
• Step 8 Obtaining the Deed

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Round 1
Municipality Harvey Lynwood Richton Park
Sauk Village Totals 4 There were 17
Harvey parcels. One (1) parcel has been
redeemed.
of Parcels Sites Anticip. Deed
Date 16 2 April 2002 2 2 April
2002 1 1 April 2002 1 1 April
2002 20 6
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Round 2
Municipality Dixmoor Harvey 3rd
Party Markham Phoenix Richton Park
Totals 5
of Parcels Sites Anticip. Deed Date 6
3 July 2002 6 2 July 2002 3
2 July 2002 12 3 July
2002 1 1 July 2002
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Round 3
Municipality Blue Island Ford
Heights Harvey Lansing Park
Forest Totals 5 NCB already approved,
SSTRP picks up from here. Marketing agreement
only. Already municipally owned.
of Parcels Sites Anticip. Deed Date
2 1 December 2002 46 15
December 2002 9 4 December 2002 3
2 4 2 December 2002 64
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Recommended Acquisitions for the 4th Round
Municipality Blue Island Harvey Markham Park
Forest Posen Richton Park Robbins Totals
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of Parcels Sites 1
1 25 12 1
1 1 1 3
1 1 1 108
6 140
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Summary of Acquisitions

• Including the recommended 4th Round of
  acquisitions, we will have agreements with
• 13 municipalities, representing 252 parcels
  and 64 sites.

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Implementation and Development

• SSTRP Marketing Strategies
• RFP for Real Estate Brokerage Services
• High Potential Fliers
• Site Development Agreements

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Pending Agreements with Businesses for SSTRP Sites

• Municipality
• Harvey
• Lansing

• Businesses
• Boomerang
• Johns Arrow
• SET Environmental
• Thomas Management
• Cloverleaf Farms Distributors, Inc.
• All Chicago Fleet

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Pending Agreements with Businesses
for SSTRP Sitescontinued

• Municipality
• Markham
• Richton Park
• Sauk Village

• Businesses
• Midwestern Electric Co. Inc.
• Thomas Management
• EAT-N-RUN
• Perks Place
• Thomas Management

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Intangible Benefits

• Catalyst for municipalities
• Builds cooperation and foster relationships
• Encourages positive use of tax delinquent
  properties
• Cultivates intergovernmental relationships
• Heightens the dialogue regarding redevelopment
  opportunities

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Thank You!!