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Glenview approves consolidation and extension of Apt Electronics' Cook County Class 6B incentives
Summary
The board approved staff's request to consolidate three Cook County Class 6B incentive agreements for Apt Electronics into one extension and an associated agreement that includes baseline tax expectations, make-whole payments to taxing districts if taxes fall short, and a job-maintenance commitment of 13 positions.
Director Brady presented a proposal to consolidate three existing Cook County Class 6B incentives granted in 2014, 2018 and 2019 for Apt Electronics into a single extension. The request included an accompanying agreement outlining baseline tax projections, make-whole payments to local taxing districts if actual property taxes fall below those projections, and a commitment by Apt to maintain 13 local employees on its Milwaukee Avenue campus.
Brady explained Class 6B incentives reduce the Cook County assessment level for qualifying industrial properties for up to 12 years under county rules; the company's property had been through three expansions and the village previously supported each application. Staff said Apt has paid property taxes substantially above earlier projections to date and that the consolidation would simplify administration while continuing local oversight via the agreement's baseline and make-whole provisions.
Trustee Doran moved approval with a second from Trustee Sidoti; the board approved the omnibus motion unanimously. President Jenny thanked Apt's ownership and leadership for their partnership with the village.
What's next: the board approved the resolution supporting the Cook County consolidation and the related local agreement; implementation will proceed in concert with county review and the contract terms.
