A. It is the policy of the village board to authorize a variety of tax incentives, reimbursement of taxes, waivers of fees and special considerations for assistance in the area of economic development programs which, pursuant to state and federal law, apply to business enterprises within the zone, and pursuant to the authority of the general purpose unit(s) of government within the zone having jurisdiction. Said incentives are hereby created and include, but are not limited to, the following:
1. Property tax abatement on new improvements.
2. Lower property tax classification (Cook County).
3. Sales tax exemption on building materials to be incorporated into real estate in the zone.
4. Building and construction waivers.
5. Grants or loan assistance, as such programs become available.
6. Targeting local resources and applicable federal programs.
7. Such other tax or other financial incentives or reimbursements as may be authorized by law, now or in the future.
8. Shopsteading or homesteading as defined by the Illinois enterprise zone act.
B. This section does not prohibit the general purpose unit(s) of government, portions of which jurisdictions encompass the enterprise zone, from extending the foregoing or other benefits for business enterprises in the enterprise zone or throughout their territory by separate ordinance.
C. The village clerk shall make available information on application procedures to any business so desiring to acquire any of the benefits hereinabove described. The village board of trustees shall consider any and all applications presented thereto in proper form and shall have the sole discretion in awarding any benefit prescribed by either state, county or local laws. (Ord. 91-2, 2-11-1991)