(A) The city hereby declares and affirms that the Zone Area is qualified for designation as an Enterprise Zone in accordance with the provisions of the state’s Enterprise Zone Act, being 20 ILCS 655, and further affirms that:
(1) An area is qualified to become an enterprise zone which:
(1) Is a contiguous area, provided that a Zone Area may exclude wholly surrounded territory within its boundaries;
(2) Comprises a minimum of one-half square mile and not more than 12 square miles;
(3) Is entirely within a municipality; and
(4) Meets three or more of the following criteria:
(a) All or part of the local labor market area has had an annual average unemployment rate of at least 120% of the state’s annual average unemployment rate for the most recent calendar year or the most recent fiscal year as reported by the Department of Employment Security;
(b) Designation will result in the development of substantial employment opportunities by creating or retaining a minimum aggregate of 1,000 full-time equivalent jobs due to an aggregate investment of $100,000,000 or more, and will help alleviate the effects of poverty and unemployment within the local labor market area;
(c) All or part of the local labor market area has a poverty rate of at least 20% according to the latest federal decennial census, 50% or more of children in the local labor market area participate in the federal free lunch program according to reported statistics from the State Board of Education, or 20% or more households in the local labor market area receive food stamps according to the latest federal decennial census;
(d) An abandoned coal mine or a brownfield (as defined in § 58.2 of the Environmental Protection Act) is located in the proposed Zone Area, or all or a portion of the proposed zone was declared a federal disaster area in the three years preceding the date of application;
(e) The local labor market area contains a presence of large employers that have downsized
over the years, the labor market area has experienced plant closures in the five years prior to the date of application affecting more than 50 workers, or the local labor market area has experienced state or federal facility closures in the five years prior to the date of application affecting more than 50 workers;
(f) Based on data from Multiple Listing Service information or other suitable sources, the
local labor market area contains a high floor vacancy rate of industrial or commercial properties, vacant or demolished commercial and industrial structures are prevalent in the local labor market area, or industrial structures in the local labor market area are not used because of age, deterioration, relocation of the former occupants, or cessation of operation;
(g) The applicant demonstrates a substantial plan for using the designation to improve the state and local government tax base, including income, sales and property taxes;
(h) Significant public infrastructure is present in the local labor market area in addition to a plan for infrastructure development and improvement;
(i) High schools or community colleges located within the local labor market area are engaged in ACT Work Keys, Manufacturing Skills Standard Certification or other industry-based credentials that prepare students for careers; or
(j) The change in equalized assessed valuation of industrial and/or commercial properties in the five years prior to the date of application is equal to or less than 50% of the state average change in equalized assessed valuation for industrial and/or commercial properties, as applicable for the same period of time.
(B) On 11-19-1984, the city conducted a public hearing within the Zone Area on the question of whether to create the zone, what local plans, tax incentives and other programs should be established in connection with the zone, and what the boundaries of the zone should be, and that public notice was given in at least one newspaper of general circulation within the Zone Area, not more than 20, nor less than five, days before the hearing.
(1960 Code, § 11-1-3)