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CITY OF WEST CHICAGO
FINANCE COMMITTEE
AGENDA ITEM SUMMARY
ITEM TITLE:
AGENDA ITEM NUMBER: _ “1'-C-+0.
Greco/DeRosa Investment Group
FILE NUMBER:
Resolution No. 20-R-0052 — Partial Property Tax COMMITTEE AGENDA DATE: 9/22/2020
Abatement
COUNCIL AGENDA DATE: 10/5/2020
Resolution No. 20-R-0053 — Economic Incentives
STAFF REVIEW: SIGNATURE.
APPROVED BY CITY ADMINISTRATOR:
SIGNATURE.
ITEM SUMMARY:
In 2015, the Finance Committee endorsed a package of incentives to attract larger businesses to our community,
which included a partial property tax abatement, partial rebates of utility taxes and a partial waiver of building
permit fees.
Greco/DeRosa Investment Group is looking to construct an 295,641 square foot building on 46+ acres in the
DuPage Business Center. The incentives tentatively agreed to by the parties include the following: (1) a 50%
property tax abatement for 10 years, up to $4,000,000 by District 33, District 94, the Fire Protection District, the
Library District, the DuPage Airport Authority and the City; (2) a waiver of 50% of the building permit fees by the
City up to $100,000 (excluding the sewer capacity charge and third party fees paid for by the City); and (3) a
rebate of the City’s electric use tax, up to $200,000, if a manufacturing component is added to this development.
In return for the incentives, the building would need to remain operational for 15 years, or else there are clawback
provisions that would result in portions of the incentives being repaid, the amount determined by the number of
years the building was occupied.
The lawyers from all parties are still sorting through the documents, but all parties have agreed upon the material
terms. These terms match those given to Discovery Drive Investors (Suncast), Norix Group and Alton Industries.
ACTIONS PROPOSED:
Staff recommends approval of material terms that will be contained within Resolution No. 20-R-0052 and
Resolution 20-R-0053.
COMMITTEE RECOMMENDATION:

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1307 Schiferl Rd.
Bartlett, IL 60103
wl
GRECO | DEROSA
INVESTMENT GROUP
Via E-mail & US Mail
8/27/2020
Mr, Michael Guttman
West Chicago City Manager
435 Main Street
West Chicago, IL, 60185
Dear Mr. Guttmann;
Please accept this letter as a request of the City of West Chicago for Real Estate Tax Abatements and
Municipal Fee Credits, in cooperation with other local taxing bodies. $5,306,695.23 in Property Taxes will
be generated over the next 10 years by this project. $2,330,063.56 would be abated, Net to various taxing
bodies $2,976,631.68. When incentive expires at least $5,306,695.23 will be collected. Number could
increase based on changes to assessment, tax rates.
Municipal Fees of $65,005.85; $94,593.28; $249,934.22 have been paid. Municipal Fee Credit would
refund $100,000,
Projecting Annual Utility Costs will be $350K. 50% of local electric tax credit should be about 15K.
Attached is Project Profile.
Also attached is a spread sheet illustrating property tax abatement in line with abatements agreed to by City
of West Chicago in other instances.
Any questions, please contact Rory O’Conor at 224 436 0235. Thank you for support and cooperation.
Sincerely,
Ron DeRosa
Principal, Greco DeRosa Investment Group
Vi
Sincerely,
Rory O’Conor, Taxpayer’s Agent
www.gdinvestmentgroup.com + Main: 630.580.0750 + Fax: 630.580.0749

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Project Description for 2595 Enterprise Drive, West Chicago IL
46.839 Acres purchased from DuPage Airport Authority.
295,641 SF, Pre-Cast Warehouse. ’36 Clear Ceiling Height. 41 Truck Docks, 4 Drive in Doors, 21 Future
Truck Docks,
Construction Costs $15MM. G4 Construction, General Contractor. Local Sub-Contractors have been used.
Projected completion date 9/1/2020.
In final lease negotiations with Tenant. Occupancy early next year after Tenant Improvements complete.
50 employees at average salary of $40,000 per anum. All Illinois residents.
Benefits including:
Medical, Dental, Life, Health Sharing.
401 / Profit Sharing Retirement Plan.
Paid Vacations and Holidays.

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Sheet
2595 Enterprise Drive F
West Chicago, IL
Real Estate 2021, pay 2022 | 2022, pay 2023 | 2023, pay 2024 | 2024, pay 2025 | 2025, pay 2026 | 2026, pay 2027 | 2027, pay 2028 | 2028, pay 2029 | 2029, pay 2030 | 2030, pay 2031 Totals Long Term Debt | Net of new taxes |Long Term Debt Reduction
04-18-100-012
Square Feet + 296000 296000 296000 296000 296000 296000 296000 296000 296000 296000
Assessment $5,372,400 $5,372,400 $5,372,400 $5,372,400 $5,372,400 $5,372,400 $5,372,400 $5,372,400 $5,372,400 $5,372,400
Tax Rate 0.09875000 0.09875000 0.09875000 0.09875000 [- 0.09875000 0.09875000 0.09875000 0.09875000 0.09875000 0.09875000
Incremental Tax Due to Development $530,524.50 $530,524.50 $530,524.50 $530,524.50 $530,524.50 $530,524.50 $530,524.50 $530,524.50 $530,524.50 $530,524.50 $5,305,245.00
Breakout
Grade School District 33 0.0443 $238,018.81 $238,018.81 $238,018.81 $238,018.81 $238,018.81 $238,018.81 $238,018.81 $238,018.81 $238,018.81 $238,018.81 $2,380,188.10
Grade School District 33 Pension 0.002502 $13,441.74 $13,441.74 $13,441.74 $13,441.74 $13,441.74 $13,441.74 $13,441.74 $13,441.74 $13,441.74 $13,441.74 $134,417.40
{High School District 94 0.021888 $117,591.09 $117,591.09 $117,591.09 $117,591.09 $117,591.09 $117,591.09 $117,591.09 $117,591.09 $117,591.09 $117,591.09 $1,175,910.90
High School District 94 Pension 0.000685 $3,680.09 $3,680.09 $3,680.09 $3,680.09 $3,680.09 $3,680.09 $3,680.09 $3,680.09 $3,680.09 $3,680.09 $36,800.90 |
West Chicago Fire District 0.008135 $43,704.47 $43,704.47 $43,704.47 $43,704.47 $43,704.47 $43,704.47 $43,704.47 $43,704.47 $43,704.47 $43,704.47 $437,044.70
West Chicago Fire District Pension 0.00116 $6,231.98 $6,231.98 $6,231.98 $6,231.98 $6,231.98 $6,231.98 $6,231.98 $6,231.98 $6,231.98 $6,231.98 $62,319.80
City of West Chicago 0.005034 $27,044.66 $27,044.66 $27,044.66 $27,044.66 $27,044.66 $27,044.66 $27,044.66 $27,044.66 $27,044.66 $27,044.66 $270,446.60
West Chicago Library District 0.002728 $14,655.91 $14,655.91 $14,655.91 $14,655.91 $14,655.91 $14,655.91 $14,655.91 $14,655.91 $14,655.91 $14,655.91 $146,559.10
West Chicago Library District Pension 0.000165 $886.45 $886.45 $886.45 $886.45 $886.45 $886.45 $886.45 $886.45 $886.45 $886.45 $8,864.50
Dupage Airport Authority 0.000141 $757.51 $757.51 $757.51 $757.51 $757.51 $757.51 $757.51 $757.51 $757.51 $757.51 $7,575.10
Warrenville Park District 0.004577 $24,589.47 $24,589.47 $24,589.47 $24,589.47 $24,589.47 $24,589.47 | $24,589.47 $24,589.47 $24,589.47 $24,589.47 $245,894.70
College of Dupage 0.002112 $11,346.51 $11,346.51 $11,346.51 $11,346.51 $11,346.51 $11,346.51 $11,346.51 $11,346.51 $11,346.51 $11,346.51 $113,465.10
County of Dupage 0.001002 $5,383.14 $5,383.14 $5,383.14 $5,383.14 $5,383.14 $5,383.14 $5,383.14 $5,383.14 $5,383.14 $5,383.14 $53,831.40
County of Dupage Pension 0.000209 $1,122.83 $1,122.83 $1,122.83 $1,122.83 $1,122.83 $1,122.83 $1,122.83 $1,122.83 $1,122.83 $1,122.83 $11,228.30
Winfield Township Road 0.001452 $7,800.72 $7,800.72 $7,800.72 $7,800.72 $7,800.72 $7,800.72 $7,800.72 $7,800.72 $7,800.72 $7,800.72 $78,007.20
Winfield Township Road Pension 0.000058 $311.60 $311.60 $311.60 $311.60 $311.60 $311.60 $311.60 $311.60 $311.60 $311.60 $3,116.00
Forest Preserve District 0.001141 $6,129.91 $6,129.91 $6,129.91 $6,129.91 $6,129.91 $6,129.91 $6,129.91 $6,129.91 $6,129.91 $6,129.91 $61,299.10
Forest Preserve District Pension 0.000101 $542.61 $542.61 $542.61 $542.61 $542.61 $542.61 $542.61 $542.61 $542.61 $542.61 $5,426.10
Winfield Township 0.000939 $5,044.68 $5,044.68 $5,044.68 $5,044.68 $5,044.68 $5,044.68 $5,044.68 $5,044.68 $5,044.68 $5,044.68 $50,446.80
County Health Department 0.000331 $1,778.26 $1,778.26 $1,778.26 $1,778.26 $1,778.26 $1,778.26 $1,778.26 $1,778.26 $1,778.26 $1,778.26 $17,782.60
County Health Department Pension 0.000113 $607.08 $607.08 $607.08 $607.08 $607.08 $607.08 $607.08 $607.08 $607.08 $607.08 $6,070.80
Total 0.098777 $530,669.55 $530,669.52 $530,669.52 $530,669.52 $530,669.52 $530,669.52 $530,669.52 $530,669.52 $530,669.52 $530,669.52 $5,306,695.23
Abated Taxes |
Grade School District 33 0.044304 $119,009.40 $119,009.41 $119,009.41 $119,009.41 $119,009.41 $119,009.41 $119,009.41 $119,009.41 $119,009.41 $119,009.41 $1,190,094.05] $30,990,000 $29,799,905.95 -3.8%
Grade School District 33 Pension 0.002502 $6,720.87 $6,720.87 $6,720.87 $6,720.87 $6,720.87 $6,720.87 $6,720.87 $6,720.87 $6,720.87 $6,720.87 $67,208.70
|High School District 94 0.021888 $58,795.55 $58,795.55 $58,795.55 $58,795.55 $58,795.55 $58,795.55 $58,795.55 $58,795.55 $58,795.55 $58,795.55 $587,955.45| $45,708,500 $45,120,544.55 -1.3%
|High School District 94 Pension 0.000685 $1,840.05 $1,840.05 $1,840.05 $1,840.05 $1,840.05 $1,840.05 $1,840.05 $1,840.05 $1,840.05 $1,840.05 $18,400.45 |
West Chicago Fire District 0.008135 $21,852.24 $21,852.24 $21,852.24 $21,852.24 $21 852.24] $21,852.24 $21,852.24 $21,852.24 $21,852.24 $21,852.24 $218,522.35 $9,301,252 $9,082,729.65 -2.3%
West Chicago Fire District Pension 0.00116 $3,115.99 $3,115.99 $3,115.99 $3,115.99 $3,115.99 $3,115.99 $3,115.99 $3,115.99 $3,115.99 $3,115.99 $31,159.90
City of West Chicago 0.005034 $13,522.33 $13,522.33 $13,522.33 $13,522.33 $13,522.33 $13,522.33 $13,522.33 $13,522.33 $13,522.33 $13,522.33 $135,223.30 $2,985,000 $2,849,776.70 -4.5%
West Chicago Library District 0.002728 $7,327.95 $7,327.96 $7,327.96 $7,327.96 $7,327.96 $7,327.96 $7,327.96 $7,327.96 $7,327.96 $7,327.96] $73,279.55
West Chicago Library District Pension 0.000165 $443.22 $443.23 $443.23 $443.23 $443.23 $443.23 $443.23 $443.23 $443.23 $443.23 $4,432.25
Dupage Airport Authority 0.000141 $378.75] $378.76 $378.76 $378.76 $378.76 $378.76 $378.76 $378.76 $378.76 $378.76 $3,787.55
Total 0.086742 $233,006.36 $233,006.36 $233,006.36 $233,006.36 $233,006.36 $233,006.36 $233,006.36 $233,006.36 $233,006.36 $233,006.36 $2,330,063.56] _$88,984,752.00 $86,852,956.85| $2,131,795.15
Total Tax Collected $297,663.19 $297,663.17 $297,663.17 $297,663.17 $297,663.17 $297,663.17 $297,663.17 $297,663.17 $297,663.17 $297,663.17 $2,976,631.68
Total Incremental Tax Collected |
Grade School District 33 0.044304 $119,009.40 $119,009.41 $119,009.41 $119,009.41 $119,009.41 $119,009.41 $119,009.41 $119,009.41 $119,009.41 $119,009.41 $1,190,094.05
Grade School District 33 Pension 0.002502 $6,720.87 $6,720.87 $6,720.87 $6,720.87 $6,720.87 $6,720.87 $6,720.87 $6,720.87 $6,720.87 $6,720.87 367,208.70]
|High School District 94 0.021888 $58,795.55 $58,795.55 $58,795.55 $58,795.55 $58,795.55 $58,795.55 $58,795.55 $58,795.55 $58,795.55 $58,795.55 $587,955.45
|High School District 94 Pension 0.000685 $1,840.05 $1,840.05 $1,840.05 $1,840.05] $1,840.05 $1,840.05 $1,840.05 $1,840.05 $1,840.05 $1,840.05 $18,400.45
West Chicago Fire District 0.008135 $21,852.24 $21,852.24 $21,852.24 $21,852.24 $21,852.24 $21,852.24 $21,852.24 $21,852.24 $21,852.24 $21,852.24 $218,522.35
West Chicago Fire District Pension 0.00116 $3,115.99 $3,115.99 $3,115.99 $3,115.99 $3,115.99 $3,115.99 $3,115.99 $3,115.99 $3,115.99 $3,115.99 $31,159.90
City of West Chicago 0.005034 $13,522.33 $13,522.33 $13,522.33 $13,522.33 $13,522.33 $13,522.33 $13,522.33 $13,522.33 $13,522.33 $13,522.33 $135,223.30
West Chicago Library District 0.002728 $7,327.95 $7,327.96 $7,327.96 $7,327.96 $7,327.96 $7,327.96 $7,327.96 $7,327.96 $7,327.96 $7,327.96 $73,279.55
West Chicago Library District Pension 0.000165 $443.22 $443.23 $443.23 $443.23 $443.23 $443.23 $443.23 $443.23 $443.23 $443.23 $4,432.25
Dupage Airport Authority 0.000141 $378.75 $378.76 $378.76 $378.76 $378.76 $378.76 $378.76 $378.76 $378.76 $378.76 $3,787.55 |
4
Total 0.086742 $233,006.36 $233,006.36 $233,006.36 $233,006.36] _ $233,006.36 $233,006.36 $233,006.36 $233,006.36 $233,006.36 $233,006.36 $2,330,063.56
Non Abated Taxing Authorties $64,656.83 $64,656.81 $64,656.81 $64,656.81 $64,656.81 $64,656.81 $64,656.81 $64,656.81 $64,656.81 $64,656.81 $646,568.12
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