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La Grange backs 12‑year extension of Class 6b tax incentive for 501–515 Shawmut to support industrial expansion
Summary
The Village Board unanimously supported renewal of a Cook County Class 6b industrial property tax incentive for 501–515 Shawmut Avenue, citing property improvements, investment, and 17 jobs added; the support enables the applicant to seek county approval for a 12‑year renewal.
The La Grange Village Board on May 12 voted unanimously to provide municipal support for a renewal of a Cook County Class 6b real‑estate tax incentive for the property at 501–515 Shawmut Avenue.
Trustee Lou Gail presented the applicant's case and staff materials describing the property's history and recent investments. The applicant — G and G Partners LLC doing business as Billet Specialties (referred to in packet materials) — seeks village support for a 12‑year extension of the Class 6b classification, which temporarily reduces assessed value to encourage industrial reuse and expansion.
Trustee Gail summarized prior approvals (initial 6b support in 2014) and told the board the applicant made roughly $160,000 in improvements to the subject building, while investments at the applicant's primary facility were cited as approximately $749,000. The applicant reports that the business added 17 jobs since the original incentive and intends to occupy an additional roughly 10,000 square feet if the renewal is granted.
President Mark Kuchler and several trustees noted the tradeoff inherent in the program — reduced assessment for the property shifts tax burden proportionally across other properties — but voiced support given the applicant's local roots, capital investment and job growth. "He started with 3 employees. He's now growing, almost to 70 employees," Kuchler said, noting the owner's investment in La Grange.
The board approved a resolution stating municipal support for the renewal, a step required by the county assessor as part of the extension application. Staff materials included three projected tax‑impact scenarios over the 12‑year incentive period: if renewed, if not renewed, and if renewed but the property becomes vacant; those scenarios assume current market values and do not account for future reassessments.
Next steps: the applicant will submit the village resolution to the Cook County assessor as part of its renewal application. Any county approval would be followed by the stated assessment schedule (10% of market value for the first 10 years, 15% in the 11th year and 20% in the 12th year), with the property returning to normal assessment thereafter.
