(A) Statement of purpose. This chapter is designed to allow the creation of a business district overlay which will mesh with the zoning code and the village’s Comprehensive Plan in order to establish one or more business districts, which should in turn attract additional businesses to the village, and to provide greater profitability and stability to existing businesses.
(B) Statutory authority. This chapter is established pursuant to the authority given to the village to enact the same as set forth in ILCS Ch. 65, Act 5, § 11-74.3-1 et seq. It is the intent of the corporate authorities to exercise the powers so granted to them as broadly as possible so as to effectuate the purposes of this chapter.
(C) Zoning code unaffected. Nothing herein shall be deemed to rezone any property in the village, nor to negate, modify or establish any regulations in any zoning district.
(D) Establishment. As soon as practicable after this section is adopted, the Planning and Zoning Board shall meet and consider how many business districts should be established and what parcels and areas of land are amenable to inclusion within any business district. The PZB shall thereafter timely make their recommendations to the Village Board for final action. From time to time thereafter, the Village Board may seek additional recommendations on expansion, revision, addition or elimination of any parts of any designated business district from the PZB, which shall again make timely recommendations to the Village Board for final action.
(E) Conformity with Comprehensive Plan. In making its recommendations, the PZB, and in acting on those recommendations, the Village Board should provide that any business district so created or modified is compatible with the then-current Comprehensive Plan of the village.
(F) Powers of the village. Within any established business district, the corporate authorities shall have the following powers, consistent with the maximum extent of those powers which are granted to the village by ILCS Ch. 65, Act 5, § 11-74.3-3 as it is in effect on the date of adoption of this section, or as it may thereafter be amended:
(1) To approve all development and redevelopment proposals for a business district;
(2) To exercise the use of eminent domain for the acquisition of real and personal property for the purpose of a development or redevelopment project;
(3) To acquire, manage, convey or otherwise dispose of real and personal property according to the provisions of a development or redevelopment plan;
(4) To apply for and accept capital grants and loans from the United States and the State of Illinois, or any instrumentality of the United States or the state, for business district development and redevelopment;
(5) To borrow funds as it may be deemed necessary for the purpose of business district development and redevelopment, and in this connection issue such obligation or revenue bonds as it shall be deemed necessary, subject to applicable statutory limitations;
(6) To enter into contracts with any public or private agency or person;
(7) To sell, lease, trade or improve real property in connection with business district development and redevelopment plans;
(8) To employ all such persons as may be necessary for the planning, administration and implementation of business district plans;
(9) To expend such public funds as may be necessary for the planning, execution and implementation of the business district plans;
(10) To establish by ordinance or resolution procedures for the planning, execution and implementation of business district plans.
(11) To create a Business District Development and Redevelopment Commission to act as agent for the municipality for the purposes of business district development and redevelopment.
(12) To impose a retailers' occupation tax and a service occupation tax in the business district for the planning, execution, and implementation of business district plans and to pay for business district project costs as set forth in the business district plan approved by the municipality.
(13) To impose a hotel operators’ occupation tax in the business district for the planning, execution, and implementation of business district plans and to pay for the business district project costs as set forth in the business district plan approved by the municipality.
(14) To issue obligations in one or more series bearing interest at rates determined by the corporate authorities of the municipality by ordinance and secured by the business district tax allocation fund set forth in ILCS Ch. 65, Act 5, § 11-74.3-6 for the business district to provide for the payment of business district project costs.
(Ord. 2002-O-46, passed 11-19-02)