Section
120.01 Establishment
120.02 Term of enterprise zone
120.03 Area of enterprise zone
120.04 Qualification for enterprise zone
120.05 Tax incentive
120.06 Abatement of ad valorem taxes, and exceptions
120.07 Permit fees; waiver
120.08 Designated zone organizations
120.09 Creation of Zone Administrator; duties and powers
120.10 Enterprise zone fee schedule
The city hereby establishes an enterprise zone, pursuant to authority granted by the Illinois Enterprise Zone Act (the "Act"; PA 82-1019); as amended, subject to the approval of the Illinois Department of Commerce and Community Affairs, and subject to the provisions of the Act.
(Ord. 2651, passed 12-14-87)
The term of the zone shall commence with the date the enterprise zone is designated and certified by the Illinois Department of Commerce and Community Affairs pursuant to Section 5.3 of the Act, and shall terminate at midnight of December 31 of the 30th year after the year in which the enterprise zone area is certified, unless otherwise stated herein.
(Ord. 2651, passed 12-14-87; Am. Ord. 3358, passed 8-12-02)
As established by the units of government and approved by the Illinois Department of Commerce and Community Affairs (DCCA), the area of the enterprise zone shall be as described in Exhibit A, as attached to Ordinance No. 2651, passed December 14, 1987, and as outlined in the map in Exhibit B, which is held by the Zone Administrator, both made a part hereof.
(Ord. 2651, passed 12-14-87; Am. Ord. 2846, passed 8-23-93; Am. Ord. 2895, passed 5-23-94; Am. Ord. 3113, passed 7-28-97; Am. Ord. 3182 passed 9-28-98; Am. Ord. 3229, passed 11-8-99; Am. Ord. 3356, passed 8-12-02; Am. Ord. 3407, passed 7-14-03)
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 Illinois Enterprise Zone Act, and further affirms that:
(A) The zone area is a contiguous area;
(B) The zone area comprises a minimum of one-half square mile and not more than ten square miles in total area;
(C) The zone area is a depressed area;
(D) The zone area satisfies any additional criteria established by the Illinois Department of Commerce and Community Affairs; and,
(E) On November 12, 1987, 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 days nor less than five days before the hearing.
(Ord. 2651, passed 12-14-87)
Each retailer in Illinois who makes sales at retail of building materials to be incorporated into real estate located in the enterprise zone of the city, may deduct receipts from such sales from the Illinois Retailer's Occupation Tax only to the extent that a building permit is issued for the construction, and the project is approved by the enterprise zone administrator. A copy of the zone administrator's certificate of approval must be provided to the retailer at the time of purchase and maintained by the retailer in its books and records to establish the exemption.
(Ord. 2651, passed 12-14-87; Am. Ord. 2918, passed 8-22-94; Am. Ord. 3357, passed 8-12-02)
Loading...