Sep 16, 2024
The Northbrook Village Board agreed by consent on Sept. 10 to recommend that a Skokie company receive property tax breaks for 12 years to expand and relocate in Northbrook. Trustees supported sending Sound, Production and Lighting’s request for a Class 6B tax break to Cook County, which could cut the company’s property assessment by 60% for 10 years, 40% during the 11th year and 20% in the final year. “There is a consensus to move it forward and along, and hopefully welcome a new business to Northbrook,” Village President Kathryn Ciesla said. “We’re happy to take it from Skokie.” Michaela Kohlstedt, deputy director of development and planning services for Northbrook, called the consent discussion a “conceptual review” before the company presents an application for formal approval. Sound, Production and Lighting hopes to buy the parcel at 3685 Woodhead Drive and use the 24,560 square feet for warehousing and offices, Kohlstedt said. The company currently employs 21 full-time and three part-time employees, and plans to add four full-time employees in 2024, three in 2025, and three to five per year thereafter, she said. The company’s website says it handles audiovisual needs, including sound and lighting, for staged events or productions, and also provides audiovisual equipment and services, such as installing a podcast studio at a corporation’s offices. “I’m definitely in favor of this,” Trustee Johannah Hebl said. “The site has been empty for over two years. I like to see 25 employees coming in, if not increasing that. I like to see investment of a half of a million dollars into the building.” Sound, Production and Lighting plans to invest $650,000 in building improvements, including $580,000 on renovation and $70,000 on equipment and furniture, Kohlstedt said. The property has been for sale for $2.5 million since June 2024, she said. The 48-year-old building sits on about 1.6 acres, Kohlstedt said. If the Class 6B status is granted, the company estimates it will pay $788,400 in taxes during the 12-year status, she said. The firm estimates it would pay $1.75 million over 12 years without Class 6B, Kohlstedt said. “This does not take into account building improvements, so the numbers will change,” she said. Trustee Michelle Kohler expressed concerns about collecting less in property taxes while the tax breaks are in place than the $963,600 the property would generate while vacant, but said she supports the proposal. “I’m also in favor, but one of my main concerns is that we collect less property taxes than on a vacant lot,” Kohler said. “I’m very sensitive on passing on more of a tax burden to residents, but I’m all in favor of the sound production company.” Trustees Heather Ross and Joy Ebhomielen also expressed support for the request for tax breaks. “I’m also in favor,” Ebhomielen said. “I hope we can get more opportunities like this.” The Class 6B program is administered by the Cook County Assessor’s Office and gives incentives to companies to revamp older, more obsolete properties, Ciesla said. “In this case, we’re talking about hundreds of thousands of dollars,” she said. “This is a great opportunity to bring another business in. To invest more than half a million in an obsolete building is in everyone’s interest. This is an economic incentive the village has in the past worked with and will continue to work with.” Property with Class 6B status is assessed at 10% of market value for the first 10 years, 15% for the 11th year and 20% in the 12th year, according to the assessor’s office. Normally, such industrial property is assessed at 25% of its market value, it said. Northbrook maintains a policy that requires any Class 6B agreement to contain a stipulation that a company receiving the tax breaks will not apply for an extension of them, Kohlstedt said.
Respond, make new discussions, see other discussions and customize your news...

To add this website to your home screen:

1. Tap tutorialsPoint

2. Select 'Add to Home screen' or 'Install app'.

3. Follow the on-scrren instructions.

Feedback
FAQ
Privacy Policy
Terms of Service