For the purposes of this chapter the following words or terms shall have the indicated meanings unless the context or usage clearly indicates that another meaning is intended:
ADMINISTRATIVE BOARD: The board consisting of one representative of each participant selected and exercising authority as provided by both section 3-6-7 of this chapter and by the intergovernmental agreement.
CERTIFICATE OF ELIGIBILITY: The certificate of eligibility issued by the village administrator or his designee to a business enterprise which: a) qualifies for an exemption from the nonhome rule sales tax by virtue of meeting the criteria for eligibility established at section 3-6-3 of this chapter; and/or b) qualifies for an abatement of real estate taxes by virtue of meeting the criteria established at section 3-6-2 of this chapter.
DCEO: The Illinois department of commerce and economic opportunity.
ELIGIBLE IMPROVEMENT: Newly constructed improvements to real estate within the enterprise zone intended to accommodate new or expanded commercial or industrial operations as determined by the zone administrator.
ENTERPRISE ZONE: That territory described in village of Germantown Hills ordinance 738 including such additions thereto or deletions therefrom as are or have been from time to time approved by the village board and certified by DCEO under authority of 20 Illinois Compiled Statutes 655/1 et seq.
ENTERPRISE ZONE ACT: The Illinois enterprise zone act found at 20 Illinois Compiled Statutes 655/1 et seq.
GERMANTOWN HILLS COMPONENT: That portion of the enterprise zone located within the corporate limits of the village of Germantown Hills.
INTERGOVERNMENTAL AGREEMENT: The agreement dated December 11, 2014, entered into by and between the city of East Peoria, the village of Washington, the village of Germantown Hills, the county of Tazewell and the county of Woodford for the purpose of designating the enterprise zone, seeking its certification from DCEO and its administration after such certification.
OWNER: Any person or entity utilizing improvements to real estate within the enterprise zone to accommodate a new or expanded commercial or industrial enterprise.
PARTICIPANTS OR PARTICIPANT: Collectively or individually the city of East Peoria, the village of Washington, the village of Germantown Hills and the county of Tazewell.
TAX INCREMENT FINANCING DISTRICT: A redevelopment project area designed and currently in effect under authority of the tax increment allocation redevelopment act found at 65 Illinois Compiled Statutes 5/11-74.4 et seq.
VILLAGE ADMINISTRATOR: The village administrator appointed from time to time by the Germantown Hills board of trustees.
ZONE ADMINISTRATOR: The person charged with the general administration of the enterprise zone as provided by section 3-6-7 of this chapter and by the intergovernmental agreement. (Ord. 759, 2-25-2016)