HomeMy WebLinkAbout#5101 RESOLUTION NO. 5101
A RESOLUTION APPROVING A STIPULATION OF ASSESSMENT BY THE
PARTIES WITH COOK CANTON, LLC (COOK MEDICAL) AND AUTHORIZING
AND DIRECTING THE MAYOR TO EXECUTE SAID STIPULATION ON BEHALF
OF THE CITY OF CANTON, ILLINOIS
WHEREAS, the Cook Canton, LLC (`Cook") filed a Industrial Appeal Property
Assessment Complaint with the Property Tax Appeal Board on or about June 29, 2016, and
notice by the Fulton County Board of Review on March 2, 2017, commonly referred to as the
Cook Medical Facility (PIN 09-08-27-441-002 and 09-08-27-441-003) and located at 300 East
Elm Street, Canton, Illinois, protesting its 2015 property tax.
WHEREAS, the City of Canton, along with the County of Fulton ("County") have
attempted began negotiations in an attempt reach a settlement as to the assessed value of the
property without proceeding to trial.
WHEREAS, the Legal & Ordinance Committee has reviewed the terms of the Stipulation
and has considered and determined that it is necessary and in the best interests of the City of
Canton, to enter into the Stipulation of Assessment by the Parties with the attached
Memorandum of Proposed Settlement attached hereto as Exhibit A to determine the assessed
value of$1,499,850.00.
WHEREAS, the City Council has reached a similar determination.
NOW THEREFORE, be it resolved by the City Council of the City of Canton, Fulton
County, Illinois, as follows:
1. That the Stipulation between the City of Canton and the Cook Canton, LLC, a copy
of which is attached hereto and incorporated herein as Exhibit A, is hereby approved.
2. That the Mayor, or his designee, is hereby authorized and directed to execute and
deliver said Stipulation on behalf of the City of Canton.
3. That this Resolution shall be in full force an effect immediately upon its passage by
the City Council of the City of Canton, Fulton County, Illinois and approval by the
Mayor thereof.
PASSED by the City Council of the City of Canton, Fulton County, Illinois, at a regular meeting
this 25th day of April 2017, upon a roll call vote as follows:
AYES: Aldermen Mayhew,West, Hale,Lovell,Ellis
NAYS: None
ABSENT: Alderman Nelson
ABSTAIN: Alderman Putrich
NLR Documents/Resolutions
4/24/2017
APPROVED:
7eftrey ttz, Mayor
ATTEST:
Diana Pavley-'ock, ity Clem
NLR Documents/Resolutions
4/24/2017
CC Property Tax Appeal Board
1 ,
1 ' Stipulation Of Assessment(s) By The Parties
', Date: 313/17
Appellant(s): Cook Canton,LLC
Docket Number(s): 16-02208
PIN(s): See Attached Addendum
SUS
ant Imgm>rmiit BOQ$YI Assessments must be completed for each parcel.Multiple parcels must be completed on the
rcc* ure ndlcided below.
baric d this page or on multiple pages and the Agg
Dockld„t, 1, PIN, - Lind h1IIllc enifnt .,;'Total
15.02.208 See Attached Addendum $47,880 $1,452,190 31,499,860
TOTAL 347,880 $1,462,190 31,490,850
AILCINSINI
The undersigned have reviewed the fie In the above captioned matter and find that the assessments should be adjusted and
that a heating le not n The parties agree that the"Stipulated Assessment(s)”should be applied In the Property Tax
Appeal Board's decision
Acceptance Appellant/Attorney Acceptance ler Board of Review
Acceptance for Intervenor Acceptance for Board of Review
Acceptance for Intarwnor Acceptance for Bawd of Review
thinfitinga
Attorney Name: Ellen O.BerkahlreNerros,Latakia'&Berkshire,PC
Bd.of Review Attn.Code 1084
ONeenttng Beed of Revive MemberC ommlaalener
Address: 33 N.LaSalle SL,Ste.2600
Chicago, IL 80802
Please transmit original adpulatlon as follows
In a8 counties other then Cook send to: In Cook Canty,send to:
STATE OF I WNOIB STATE OP ILLINOIS
PROPERTY TAX APPEAL BOARD PROPERTY TAX APPEAL BOARD
ROOM 402 STRATTON OFFICE BUILDING SUBURBAN NORTH REGIONAL OFFICE FACILITY
401 SOUTH SPRING STREET 9611 WEST HARRISON STREET SUITE 141
SPRINGFIELD IL 82708-4001 DES PLANES IL 80018.1563
(217)782-0078 (947)294.4121
mem nmteaumal a
ADDENDUM
.Dodut::: . PIN' Land ImprOveingrt " T I
15412208 09-08-27.441-002 $42270 $1,462,190 51,494,460
15-02208 09-08-27-441-003 $5,390 $0 _ $5,390 ._
TOTAL $47,880 $1,452,190 $1,499,850
pnisb km+moml
Memorandum of Proposed Settlement
To: Fulton County Board of Review
RE: Cook Canton,LLC
Tax Years: 2015-2018
The Taxpayer, Cook Canton, LLC, and intervenors, Canton Township, City of Canton
and Canton Union School District #66 (the "Parties") have reviewed and discussed the
appropriate market value of the property known as the Cook Canton, LLC located in the City of
Canton, Illinois. The Parties have reviewed evidence of market value for the subject property;
including recent appraisals, in support of this multi-year settlement agreement. This agreement
shall resolve pending tax appeals before the Property Tax Appeal Board for tax years 2015 and
2016,and shall establish an agreed to value for tax year 2017 and 2018.
Establishing certainty in determining a fair assessment of the subject property is in the
best interests of all parties in order to avoid further litigation associated with ongoing appeals of
property tax assessments,to mitigate the costs associated with filing and defending appeals and
assessments,to avoid prolonged delays in hearing property tax appeals and obtaining finality in
assessment decisions, and to avoid overpayment of property taxes and the accompanying damage
to school district budgets when property tax refunds are paid out.
Whereas,the parties hereby agree to the following:
• Establish a Market Value of$4,500,000 for 2015 through 2018
• Agreement of Taxpayer to waive refunds related to the City of Canton
The market value as agreed to by the Parties excludes future changes such as expansion
or demolition of the building,destruction of the improvements(in whole or in part),closure of
the operations, substantial renovations,new construction or other physical changes to the
property which impact its market value.
The Taxpayer agrees not to file an appeal of the 2017 and 2018 assessment as long as the
assessed value totals$1,499,850 equating to a market value of$4,500,000.
Attorney for Cook Canton,LLC
Ellen G. Berkshire
Verros,Lafakis&Berkshire,PC
Dated: