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| CALUMET
CITY DEPARTMENT DIRECTORY - COMMUNITY & ECONOMIC DEVELOPMENT |
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Enterprise Zone |
Tax Class. Incentives | What
Qualifies? | Available Land
| TIF-1 Located between State
Line Road and Burnham Avenue, with Marble Street
Property and 154th Street bordering on the north
and south respectively. |
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| TIF-2 Located between Burnham
Avenue and Commercial Avenue, with State Street
and Sibley Boulevard on the north and south respectively.
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| TIF-3 Located at I-94 and
Sibley Boulevard. Part of this area has already
been developed with a new Baymont Hotel. |
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| TIF-4 Located west Torrence
Avenue behind the existing buildings housing Advanced
Bank and Colorado Steak House, south to the Calumet
River as the southern boundary. |
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The Entire City of Calumet City is classified as an Enterprise
Zone and is pre-approved by the city council for interested
developers. This is a very beneficial tool for developers,
which includes exemption on sales tax of materials and
waiving of city permits. Enterpriz Cook County can also
assist in additional strategies for business which include
job training.
1) Cook County Property Tax Incentives
Class 6(b), Class 6(c), Class 7(a)/Class 7(b) and Class
8 incentives lower property tax burdens for new and expanding
businesses. For qualifying projects, rates can be lowered
by more than 50 percent for up to 12 years.
Class 6(b): Provides a
reduced level of assessment to properties that are used
primarily for industrial purposes where the owner has
substantially rehabilitated an existing facility or reoccupied
an abandoned one. The property receives a 16% assessment
level for the first 10 years, 23% in the 11th year and
30% in the 12th year before returning to the full 36%
industrial assessment level in the 13th year. This incentive
is now renewable indefinitely.
Class 6(c): Intended for
contaminated or abandoned properties or contaminated vacant
land that will be remediated and used for industrial purposes
- the property receives a 16% assessment level for the
first 10 years, 23% in year 11 and 30% in year 12, before
returning to the full assessment level in year 13.
Class 7: For commercial
properties located in areas in need of commercial development
- as with Class 6, the incentive extends to new or substantially
rehabilitated facilities or to reoccupied abandoned properties.
The property receives a 16% assessment level for the first
10 years, 23% in the 11th year and 30% in the 12th year,
before returning to the full 38% assessment level for
commercial properties in the 13th year.
Class 7(a) and 7(b): Class
7(a) has a simpler application process and extends to
commercial properties where the total development costs
do not exceed $2 million. Class 7(b) has a somewhat lengthier
application procedure and extends to properties where
the total development costs exceed $2 million.
Class 8: For both commercial
and industrial properties located in areas defined as
severely blighted - municipalities apply to the County
Assessor for Class 8 designation of the blighted area.
Then, individual parcel owners within the area apply for
sub Class 8 incentives as the properties develop. Class
8 provides a reduced level of assessment to properties
where the owner has developed a new or substantially rehabilitated
facility or has reoccupied an abandoned property.
Qualifications and Restrictions:
The Department of Community and Economic Development can
pre-qualify projects. Ultimately, it is the Cook County
Assessor's Office that authorizes and makes the legal
determination of whether projects qualify for real estate
tax incentives.
New Construction. The reduction applies to both
land and facilities.
Expansion of existing facilities. The reduction
applies only to the expansion and the land under the expansion.
With vertical expansion, the reduction covers added square
footage and a portion of the land.
Substantial rehabilitation of existing facilities.
The reduction applies to the added value of the rehabilitation,
but not the land.
Purchase and use of facilities that have been vacant for
at least two years. The reduction applies to both
land and facilities. This provision does not mean that
a facility must be tax-delinquent to qualify, but only
that the owner has not utilized it or has not leased it
for 24 consecutive months.
The Community & Economic Development (CED) Department
has created a community catalog that outlines available
properties for development. For information, please
contact the Community and Economic Coordinator. There
are great opportunities in Calumet City and the CED
Department is here to help you through the entire process.
For Buildings: click
here
For Sites: click
here
For Localities: click
here
For Downloads: click
here |
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