The council unanimously approved a resolution supporting a Cook County Class 6b commercial property tax incentive for 301 Ramona Avenue. City staff said Vital RE LLC has a letter of intent to purchase the 5.5-acre parcel and expects to invest roughly $500,000 in improvements to convert two industrial buildings (about 24,500 sq ft) for Vital Truck and Van’s operations. The company would relocate Illinois operations to Elgin, bringing seven existing employees and creating roughly 10 additional full-time equivalent positions once renovations are complete.

Staff explained the incentive reduces the property tax burden for the redeveloper over a 12-year period to make the relocation economically feasible; without the incentive the company would not proceed with the purchase. Staff estimated Cook County tax revenue generated during the 12-year incentive would be approximately $1.4 million compared with $3.0 million if taxed fully; if the property remained vacant, revenue to taxing bodies would be roughly $820,000 across the period.

Council members said the incentive helps keep businesses from choosing neighboring counties with lower tax burdens and praised the effort to fill a vacant industrial use and create jobs in the city. The resolution is a municipal support letter only; final approval of any 6b incentive is by Cook County.