(A) District established.
(1) The village hereby designates the real estate described in Exhibit A, “Central Brighton Business District Boundary Description,” attached to the ordinance codified herein as a business district under the Business District Act, and as the business district hereunder. Under the Business District Act, the village hereby adopts and approves the Central Brighton Business District Plan for the Central Brighton Business District. The Central Brighton Business District Plan as so adopted and approved shall be on file with the Village Clerk’s records with the ordinance codified herein (but any failure to so file it shall not abrogate, diminish, or impair its effect).
(2) Obligations payable from and/or secured by revenues derived from the Business District may be issued for financing business district project costs.
(Prior Code, § 1-7C-1)
(B) Business District taxes.
(1) Effective January 1, 2011, a tax is hereby imposed upon all persons engaged in the business of selling tangible personal property, other than an item of tangible personal property titled or registered with an agency of this state’s government, at retail within the boundaries of the Central Brighton Business District at the rate of 1% of the gross receipts from such sales made in the course of such business while this section is in effect; and a tax is hereby imposed upon all persons engaged within the boundaries of the Central Brighton Business District in the business of making sales of service, at the rate of 1% of the selling price of all tangible personal property transferred by such serviceperson as an incident to a sale of service. This “business district retailers’ occupation tax” and this “business district service occupation tax” shall not be applicable to the sales of food for human consumption which is to be consumed off the premises where it is sold (other than alcoholic beverages, soft drinks and food that has been prepared for immediate consumption) and prescription and nonprescription medicines, drugs, medical appliances, modifications to a motor vehicle for the purpose of rendering it usable by a disabled person, and insulin, urine testing materials, syringes, and needles used by diabetics.
(2) The imposition of these business district taxes is in accordance with the provisions of 65 ILCS 5/11-74.3-6(b), (c), and (d). The Village Board shall adopt an ordinance to discontinue these business district taxes such that said taxes shall not be imposed for more than 23 years, in accordance with state law, within the time frame necessary to duly notify the State Department of Revenue (not less than three months but not more than eight months prior to continuation).
(Prior Code, § 1-7C-2)
(C) Financial assistance program. All applications for economic assistance through the Central Brighton Business District financial assistance program shall first be submitted to the village’s economic development committee. The village’s economic development committee shall screen said applications on a case by case basis. The village’s economic development committee shall determine the merits of said application by majority vote. Those applications receiving a favorable vote by the majority of the members of the village’s economic development committee shall then be presented to the Board of Trustees of the village for further consideration. The Board of Trustees of the village shall make the final determination as to the approval or disapproval of applications for assistance.
(Prior Code, § 1-7C-3)
(Ord. 692, passed 7-12-2010; Ord. 703, passed 9-7-2010; Ord. 713, passed 5-2-2011)