If within two years business properties are not leased, sold or developed, Cook County can take action to revoke the tax incentives.
The Cook County Board of Commissioners unanimously passed an ordinance amendment on April 25 that was sponsored by 6th District Commissioner Donna Miller. The measure will amend the revocation clause in the County Code for Class 6B through Class 8 property tax incentives.
The amendment adds conditions for suspension and revocation of property tax incentives received by property owners if they are not leased, sold or developed after two years of receiving incentives…Please click here to read the story in the Homewood-Flossmoor Chronicle.