Title
Joint Resolution approving a Real Property Tax Abatement Agreement with various taxing bodies for FedEx Ground Package System, Inc. in Grayslake.
Staff Summary
· FedEx Ground package System, Inc (FXG) is desirous to locate a transportation center to operate a business-to-business and business-to-home package delivery center.
· The County has made economic development one of the cornerstones of its strategic planning effort.
· The transportation center will be a minimum of 200,000 square feet.
· At full capacity FXG anticipates that it will create 48 full time and 448 part-time employees. In addition, it will create jobs for 192 contract truck drivers and 40 construction jobs.
· In addition to FXG, the other parties to the agreement are the Village of Grayslake, the Grayslake Fire Protection District, the Grayslake Community High School District 127, the Fremont School District 79, and Grayslake Consolidated School District 46.
· Pursuant to the Illinois Property Tax Code, as amended, (35 ILCS 200/18-165) the County has the authority to abate real property taxes.
· Property tax abatement is necessary and justified due to the competitive selection process with other locations and the quality jobs and investment in the site.
· The abatement period is for five (5) years. The abatement will be fifty percent (50%) of each taxing districts’ portion of the property taxes allocated to them.
· FXG will use reasonable efforts to hire Lake County residents by posting job openings with the Lake County Workforce Investment Board. FXG agrees to maintain, at a minimum, the levels of employees, wage rates, and fringe benefits for said employees pursuant to the figures provided by FXG in the Lake County Partners’ Abatement Application (attached to the agreement). FXG agrees to provide evidence of the number of employees annually. If FXG does not maintain required levels, the agreement is void and FXG must repay the taxes abated during the period when it did not have...
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