08-222 z �•
Resolution No. 08-222
RESOLUTION I
AUTHORIZING EXECUTION OF A DEVELOPMENT AGREEMENT WITH
SIEMENS ENERGY & AUTOMATION, INC.
FOR DEVELOPMENT AT RANDALL POINT BUSINESS PARK
BE IT RESOLVED BY THE CITY COUNCIL OF T E CITY OF ELGIN,ILLINOIS,that
Ed Schock, Mayor, and Diane Robertson, City Clerk, be and re hereby authorized and directed to
execute a Development Agreement on behalf of the City of Elgin with Siemens Energy &
Automation,Inc. for development at Randall Point Business P rk,a copy of which is attached hereto
and made a part hereof by reference.
s/Ed Schock
Ed Schock, Mayor
Presented: September 24, 2008
Adopted: September 24, 2008
Omnibus Vote: Yeas: 5 Nays: 0
Attest:
s/Diane Robertson
Diane Robertson, City Clerk
RANDALL POINT
DEVELOPMENT AGREEMENT
This Agreement dated for reference purposes as July 31, 2008, by and between the CITY
OF ELGIN, an Illinois municipal corporation (hereinafter referred to as the "City"), and
SIEMENS ENERGY & AUTOMATION, INC., a corporation organized and existing under the
laws of the State of Delaware and authorized to do business in the State of Illinois, (hereinafter
referred to as "Developer").
WITNES SETH
WHEREAS, Developer is the owner of the propert commonly known as 950 Tollgate
Road, Elgin, Illinois 60123, where both the Developer's echanicals Drives Division, and its
affiliate Winergy Drive Systems Corporation, service .nd produce windmill turbines for
alternative energy suppliers, and provide other components snd services for other industrial gear
boxes and mechanical drives (hereinafter referred to as the "I ollgate Road Facility"); and
WHEREAS, Developer is proposing to expand its operations in a facility to be
constructed through a third party developer, at parts of Lit 1 and Lot 6 in the Randall Point
Business Park on Madeline Lane in Elgin, Illinois 60123 d-picted and legally described on the
plat of survey attached hereto as Exhibit A (such part of of 1 and Lot 6 in the Randall Point
Business Park on Madeline Lane is hereinafter referred to as the "Randall Point Property");
and
WHEREAS, Developer's proposed development on the Randall Point Property involves
constructing, through a third party developer, a new 170,4 1 square foot office and production
facility ("Initial Phase") with the intent that such shall 1 ter be expanded later to a total of
330,000 square feet; and
WHEREAS, the expansion of the Tollgate Road Facility and the development of the
Randall Point Property will allow the Developer to retain 149 current Elgin employees with
average wages including benefits of approximately $55,00 and anticipate generating another
355 jobs over the next jobs over the next five (5) years; and
WHEREAS, the expansion of the Developer's opel ations and the development of the
Randall Point Property are more particularly described in A pendixes A, B and C to the Illinois
Department of Commerce Application attached hereto s Exhibit B (the Initial Phase of
development of the Randall Point Property by the Develop r, through its third party developer,
as described herein and in Exhibit B are hereinafter referred to as the "Subject Development");
and
WHEREAS, the Developer has requested from the City certain economic development
assistance in the creation and retention of jobs at the Subject Development as hereinafter
described; and
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WHEREAS, it is unlikely that the expansion of DOveloper's operations to the Subject
Development and the retention and creation of jobs would occur in the absence of limited
economic development assistance; and
WHEREAS, in order to provide for the continued d$velopment of the City including the
expanded operation of Developer within the Subject Propert , the City has agreed to provide the
Developer certain development assistance for creation and r tention of jobs and the expansion of
its operations into the Subject Development as hereinafter d scribed; and
WHEREAS, the Subject Development will result i retaining a significant number of
jobs in the City, will result in attracting a significant num er of new jobs to the City and will
result in increases in the City's tax revenues and an increase in tax revenues to other local taxing
districts; and
WHEREAS, the City of Elgin is a home rule unit a thorized to exercise any power and
perform any function relating to its government and affairs; nd
WHEREAS, the Development Assistance as hereinafter described resulting in significant
increases in employment opportunities, significant increase in the City's tax base and spurring
additional development opportunities within the City are atters within the government and
affairs of the City of Elgin.
NOW, THEREFORE, for and in consideration of the mutual promises and undertakings
contained herein, and other good and valuable consideration,the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:
1. That the foregoing recitals are incorporated in this agreement in their entirety.
2. Developer at its cost shall provide for, o cause, the Subject Development
including the lease of the facility to be constructed, as descri ed herein, in Exhibit B hereto. The
Subject Development shall conform with the description f same herein, in Exhibit B, final
engineering plans as approved by the City Engineer, the to s of this Development Agreement,
or as otherwise is necessary to comply with ordinances, bui ding codes or other requirements of
law. Developer shall use its good faith efforts to also ause all work to be performed in
connection with the Subject Development to be performed i a workmanlike manner. All costs
and expenses relating to the renovation of Subject Developm nt shall be the responsibility of and
shall be paid for by the Developer, or with respect to the fac lity to be constructed at the Randall
Point Property by the third party developer, and then leased by Developer. No economic grant
described in Section 4(A) or (B) below shall be applied to he cost of constructing the Subject
Development. 1
3. The Developer shall commence or cause to be commenced, the Subject
Development within ninety (90) days hereof and shall complete the Subject Development no
later than December 31, 2009 (hereinafter referred to as .he "Completion Date"), provided,
however, such Completion Date for the Subject Developmel t shall be extended by one day for
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each day of which construction or activities or the acquisition of equipment is delayed or stopped
due to accidents, strike, shortages of materials, extreme weather, acts of God, or other causes not
within the Developer's reasonable control. In the event Developer requires any extension of the
Completion Date for the Subject Development, any such request shall be submitted to the City in
writing specifying the reasons for such an extension and the amount of additional time being
requested. Any agreement by the City to extend thel Completion Date for the Subject
Development shall be at the reasonable discretion of the Cit Council of the City, such request to
not be unreasonably withheld, delayed or denied. The Initi 1 Phase of the Subject Development
shall be deemed completed when the Developer has caused he completion of the construction of
the facility and site improvements and has received a nal occupancy permit for the new
building on the Randall Point Property. The City shall not Withhold a final occupancy permit for
any building on the Randall Point Property in the evet it otherwise complies with this
Agreement and all city code, ordinances and other requirem nts of law as to such property.
4. In consideration for Developer's undertak'i'ng and completion of the Subject
Development and substantial investment in the City of E gin, the City agrees to provide the
following economic development grants to the Developer to be used by the Developer solely and
only as an offset against the costs of employing its employ es at the Randall Point Property. In
no event shall any of the following economic grants be us d for the construction of the Subject
Development. Such economic development grants shall e distributed to the Developer as
follows:
A. In the event of Developer creating and estab ishing not less than ninety-five (95)
full time jobs at the new facility to be constructed b the Developer on the Randall Point
Property, the City shall pay to the Developer the su of$1,000 for each of such full time
jobs created and established by the Developer at suc property with the total monies to be
paid by the City to the Developer pursuant to this p ragraph not to exceed $95,000. The
City shall pay such monies not to exceed $95,000 to the Developer upon the Developer's
commencement of its operations within the new building on the Randall Point Business
Park Property and upon receipt of acceptable documentation verifying the creation and
establishment of such full time jobs at such new facility on the Randall Point Property.
B. In addition to the amount stated above, upon Developer commencing its
operations within new facility on the Randall Poin Property, the City shall pay to the
Developer an additional $80,000 as an additional eco omic development grant.
The City acknowledges that Winergy Drive Systems Corp ration is a subsidiary of Developer,
and notwithstanding any provision herein, any reference to eveloper commencing or expanding
operations or Developer creating, retaining and establis ing new jobs, will be deemed a
reference to Developer and/or Winergy Drive Systems Corp6ration performing such activities.
5. That in further consideration of Developer's undertaking and completion of the
Subject Development and substantial investment in the City of Elgin as described in this
Agreement, the City agrees to the extent permitted by law to provide for the expansion by the
State of Illinois of the City's existing Illinois Enterprise Zone (the "Elgin Enterprise Zone")
created pursuant to the Illinois Enterprise Zone Act at 20 ,ILLS 655/1, et seq., to include the
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Randall Point Property. The City agrees to the extent permitted by law to achieve the expansion
of the Elgin Enterprise Zone by the State of Illinois to include the Randall Point Property as soon
as is reasonably practical. Notwithstanding anything to the contrary in this Section or in this
Agreement, it is agreed and understood that the benefits provided to the Randall Point Property
and to the Developer under the Illinois Enterprise Zone Act as part of the proposed expanded
Elgin Enterprise Zone shall not include and shall not pro'ide for property tax abatements as
otherwise allowed under the Illinois Enterprise zone Act.
6. That the parties understand and agree that t e economic development assistance
being provided by the City to the Developer as set forth erein is expressly contingent upon
Developer's completing_the Subject Development as set fort herein. In the event the Developer
fails to complete the Subject Development provided in thi Agreement, the parties understand
and agree that the City will not be providing the Develo er any economic and development
assistance pursuant to this Agreement or otherwise, and De eloper shall promptly reimburse the
City in full any funds which may have previously been, paid by the City pursuant to this
Agreement, and the City's obligation to provide the Deve oper by payment or otherwise any
economic development grant assistance shall be null and voi .
7. That this agreement shall not be deemed or onstrued to create an employment,
joint venture, partnership, or other agency relationship betw en the parties hereto.
8. That all notices or other communications her under shall be made in writing and
shall be deemed given if personally delivered or mailed b registered or certified mail, return
receipt requested, to the parties at the following addresses, r at such other addressed for a party
as shall be specified by like notice, and shall be deemed rec ived on the date on which said hand
delivered or the second business day following the date on which so mailed:
TO THE CITY: TO THE DEVELOPER:
City of Elgin Siemens)Energy and Automation
150 Dexter Court 950 Tollgate Road
Elgin, IL 60120-5555 Elgin, Ii 60123
Attention: Raymond H. Moller Attention: Dan Weilandt
With a copy of any such notice to:
With R Iquired Copy To:
City of Elgin Siemens Corporation
186 Wo d Avenue South
150 Dexter Court Iselin,N w Jersey 08830-2770
Elgin, IL 60120-5555 Attn: R al Estate Counsel
Attention: William A. Cogley
Corporation Counsel
9. That the failure by a party to enforce any provision of this agreement against the
other party shall not be deemed a waiver of the right to do so thereafter.
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10. That this agreement may be modified or amended only in writing signed by both
parties hereto, or their permitted successors or assigns, as the case may be.
11. That this Development Agreement contains the entire agreement and
understanding of the parties hereto with respect to the subject matter as set forth herein, all prior
agreements and understandings having been merged herein and extinguished hereby.
12. That this agreement is and shall be deem 'd and construed to be a joint and
collective work product of the City and the Developer and, as such, this agreement shall not be
construed against the other party, as the otherwise purport d drafter of same, by any court of
competent jurisdiction in order to resolve any inconsistency ambiguity, vagueness or conflict, if
any, in the terms or provisions contained herein.
13. That this agreement is subject to and shall be governed by the laws of the State of
Illinois.
14. That this agreement shall be binding on the parties hereto and their respective
successors and permitted assigns. This agreement and he obligations herein may not be
assigned without the express written consent of each of the arties hereto, which consent may be
withheld at the sole discretion of either the parties hereto.
15. The Cityand Developer agree that, in the evert of a default bythe otherparty, the
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other party shall, prior to taking any such actions as may be vailable to it, provide written notice
to the defaulting party stating that they are giving the def ulting party sixty (60) days within
which to cure such default. If the default shall not be cured within the sixty (60) days period
aforesaid, then the party giving such notice shall be permitted to avail itself of remedies to which
it may be entitled under this agreement.
16. If either party fails or refuses to carry ou any of the material covenants or
obligations hereunder, the other party shall be entitled to pur ue any and all available remedies as
specified herein or otherwise available at law, equity or otherwise. Notwithstanding the
foregoing or anything else to the contrary in this agreement with the sole exception of an action
to recover the monies the City has agreed to pay pursuant tic) the preceding Paragraph 4 hereof,
no action shall be commenced by the Developer against the'City for monetary damages. Venue
for the resolution of any disputes or the enforcement of any rights pursuant to this agreement
shall be in the Circuit Court of Kane County, Illinois.
17. Time is of the essence of this Agreement.
18. This agreement shall be construed, and the rilhts and obligations of the City and
the Developer hereunder shall be determined in accordance with the laws of the State of Illinois
without reference to its conflict of laws rules.
19. Notwithstanding any other provisions of this Agreement, it is expressly agreed
and understood by the Developer and the City that in connection with the performance of this
Agreement and the Subject Development that Developer shall comply with all applicable federal,
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state, city and other requirements of law. Developer or its third party developer shall also at their
expense secure all permits and licenses, pay all charges and fees and give notices necessary and
incident to the due and lawful prosecution of the work necessary to provide for the Subject
Development as described in this Agreement.
20. To the fullest extent permitted by law, Developer agrees to and shall indemnify,
defend and hold harmless, the City, its officials, officers, employees, attorneys, agents, boards
and commissions from and against any and all claims, sui s, judgments, costs, attorney's fees,
damages or other relief, including but not limited to worker ' compensation claims, to the extent
resulting from or arising out of negligent actions or omiss ons of the Developer in connection
with this agreement, including negligent acts or o issions of employees, agents or
subcontractors of the Developer arising out of the performance of this agreement, or in any way
resulting from or arising out of or alleged to be resulting from or arising out of any violation
and/or breach of the terms or provisions of this agreement by the Developer, including any
violation and/or breach by employees, agents or subcontractors of the Developer. In the event of
any action against the City, its officials, officers, empl yees, agents, attorneys, boards or
commissions covered by the foregoing duty to indemnify, d fend and hold harmless such action
shall be defended by legal counsel of the Developer's cho sing, subject to the City's approval,
the costs of which shall be paid by the Developer. The prov sions of this paragraph shall survive
any termination and/or expiration of this agreement.
21. To the fullest extent permitted by law, Developer agrees to and shall indemnify,
defend and hold harmless the City, its officials, officers, 'mployees, attorneys, agents, boards
and commissions, from and against any and all third pay claims, suits, judgments, costs,
attorneys' fees, expert witness fees and expenses, damages r other relief, in any resulting from
or arising out of the City's execution of this agreement nd the City's performance of this
agreement, and the development approvals provided by the City as provided for in this
agreement. In the event of any action against the City, its fficials, officers, employees, agents,
attorneys, boards or commissions, covered by the foregoin duty to indemnify, and defend and
hold harmless, such action shall be defended by legal coun el of the Developer's choosing and
the costs of which will be paid for by the Developer. Ad itionally, in the event of such third
party action the Developer to the extent permitted by law shall upon the request of the City
attempt to intervene in such proceedings and join the City in the defense thereof.
22. Developer agrees to and shall provide to the City written reports on the status of
the Subject Development. Such written reports shall be prvided to the City quarterly or upon
reasonable request of the City. Such written reports shall contain a status report on construction
activities, and such other information with respect to the performance of the Developer's
obligations as may be reasonably requested by the City.
23. Developer on behalf of itself and its respective successors and assigns hereby
acknowledges the propriety, necessity and legality of all 6f the terms and provisions of this
agreement, and does hereby further agree and does waive a y and all rights to any and all legal
or other challenges or defenses to contest the propriety, nece sity and legality of any of the terms
and provisions of this agreement and hereby agrees and covenants on behalf of itself and its
successors, assigns and grantees of the Subject Property, not o sue the City or maintain any legal
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action or other defenses against the City with respect to any challenges the propriety, necessity
and legality of any of the terms and provisions.
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IN WITNESS WHEREOF, the parties hereto have entered into and executed this
agreement on the date and year first written below.
CITY OF ELGIN, a municipal SIEMENS ENERGY AND AUTOMATION,
corporation INC.
By: y: -- (
Mayor
x- .
Its /,'/-9
Date: . l t..�? = � f'
SIEMENS ENERGY AND AUTOMATION,
INC.
By:
Its I(/° Cok.414,_ PCO
Date: Or – Z 2 — e,j)
Attest:
City Clerk
BHLIB 599211 4\114706-00496
8
EXHIBIT A
RANDALL POINT PROPERTY
Randall Point Business Park
Big Timber Road, Elgin, Illinois
LOT 2
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LOT 10 LOTS _,....,j._1_,. . DJ&
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LOT 7
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: I 1)00D VEL! 76.00
LOT 1 I i II 23. 1
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KEYPLAN I
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SCALE 11000
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LOT 8 1 1, !
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0M0141 5Iii L 111.-0
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(+I..) i___\..... 659.00
- -- 'i
PROPOSED BUILD TO SUIT FOR N
MENS-WINERGY
s,0 200 Ft 400 Ft 1-9-08 Site Plan R-2A-2
. . i
•
EXHIBIT B
SUBJECT DEVELOPMENT
EXHIBIT A
1) Expected 2)Job Classification 3)Number of New full 4)Average Wage 5)Total Estimated
Employment Start Date or Occupation time employees or Salary Annual Salary
1st Year of Project
April 2008-Sept 30, 2009
Office 32 $60,187 $1,925,984
SE&A Office
Winergy Office 3
Production 36 $36,156 $1,301,161
SE&A Production
Winergy Production 4
2nd Year of Project
October 1,2009 Office 8 (40 Cumulative) $63,250 $2,530,000
SE&A Office 3 (32 Cumulative)
Winergy Office 5 (8 Cumulative)
1
September 30,2010 Production 61 (97 Cumulative) $37,779 $3,664,563
SE&A Production 21 (43 Cumulative)
Winergy Production 40(54 Cumulative)
Years 3-5 of Project
October 1,2010-March 15, 2012
Office 13 (53 Cumulative) $66,000 $3,498,000
SE&A Office 3 (35 Cumulative)
Winergy Office 10(18 Cumulative)
Production 205 (302 Cumulative) $39,000 $11,778,000
SE&A Production 5 (48 Cumulative)
Winergy Production 200(254 Cumulative)
Total 355 Employees
BHLIB 603014 1\114706-00496
EXHIBIT B
1 Job 2)Number of 3)Average Wag4)Payroll
Classification or Retained or Salary ** (Column 3 times
Occupation Employees * Column 4)
Office 66 $62,319 $4,113,054
SE&A 22 $65,04 $1,430,902
Winergy 44 $60,95 $2,682,152
Production 83 $35,565 $2,951,895
SE&A 28 $35,999 $1,007,975
Winergy 55 $35,344 $1,943,920
BHLB:603015,1\114706-00496
EXHIBIT C
TOTAL ESTIMATED PROJEeT COSTS*
*Years 3-10 based on assumption expansion occurs,
and such amounts are not necessary for establishing
statutory cap on EDGE credits
1)Property 2)Date to be 3)Method of 4)Estimated
Description Placed in Service Valuation i.e.Vendor, Cost
Contractor
1st Year of Project
IT/Office/PCs/ February,2009 Estimate $715,000
Security Systems
Test stand January,2009 Vendor $2,525,000
Cranes January,2009 Vendor $3,423,535
Assembly and other February,2009 Estimate $2,808,558
machines/equipment
Crane Steel,HVAC February,2009 Contractor $2,309,559
and other TI
Investments in
Building
Annual Lease Costs 2009 Estimate $1,419,840
Job Training Costs 2009 Estimate $250,000
Subtotal $13,451,492
2nd Year of
Project
Test stand January,2010 Vendor $2,500,000
Assembly and other January,2010 Estimate $500,000
equipment
Annual Lease Costs 2010 Estimate $1,419,840
Job Training Costs 2010 Estimate $250,000
Subtotal • $4,669,840
Years 3-5 of
Project
Test stands Starting 2011 I Estimate $5,000,000
Assembly Equipment Starting 2011 I Estimate $2,000,000
Annual Lease Costs 2011-2013 Estimate based on $5,735,580
anticipated expansion
Job Training Costs 2011-2013 Estimate $750,000
Subtotal
$13,485,580
Years 6-10 of
Project
Lease Costs 2014-2018 Estimate $15,793,800
Job Training Costs 2014-2018 Estimate based on 500,000
anticipated expansion
Subtotal $16,293,800
Total id year
SE&A Cost Of Project $47,900,712
BHLIB 603016 1\1 14706-00496
:moi 4 V2 '
Date June 19, 2008NORTHWEST .
TO: Mayor and Members of the City Council 0041 ..,
FROM: Olufemi Folarin, City Manager �� - ,
Raymond H. Moller, Director of Economic Development
SUBJECT: Geographic Expansion of Elgin Enterprise Zone
PURPOSE
The purpose of this memorandum is to provide the Mayor anmembers of the City Council with
information to consider an expansion to the geographic are covered by the Elgin Enterprise
Zone.
RECOMMENDATION
It is recommended that the City Council approve an ordinance related to the expansion of the
Elgin Enterprise Zone.
BACKGROUND
Enterprise Zone is an area designated by the State of Illinois, upon application by the local
government, to receive various financial incentives for rojects which promote economic
development and neighborhood revitalization. The City f Elgin applied for and received
certification for an Enterprise Zone in 1985 for a 10 year eriod. In 2004, the City received
approval for extending the term of the Enterprise Zone for a additional 10 years through 2015.
Currently the Elgin Enterprise Zone offers two incentives: waiver of both State and Local sales
tax on the sale of building materials for projects located within the established enterprise zone.
Materials may be used for new construction, remodeling or rehabilitation of structures (interior
or exterior) and must be purchased within the State of Illinoisa
In addition, the City offers property tax abatement for the Cit 's share of the property tax, which
is applied to the increase in the assessed valuation attri uted to the new construction or
improvements. The property tax abatement provision is no being extended to the geographic
area being considered for enterprise zone expansion. 1
Since 1982, the City has adopted the following legislation relting to the Enterprise Zone:
1. December 22, 1982 — An ordinance designating an area within the City of Elgin
as an enterprise zone - G70-82.
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Geographic Expansion of Elgin Enterprise Zone
June 19, 2008
Page 2
2. December 17, 1984—An ordinance designating an enterprise zone—G63-84.
3. July 26, 1989 — An ordinance amending Ordi-lance No. G70-82. An addition of
territory to the original enterprise zone.
4. June 12, 1996—An ordinance authorizing the abatement of taxes within the Elgin
Enterprise Zone.
5. September 13, 1995 — An ordinance extending the term of the Elgin Enterprise
Zone through December 31, 2005.
6. June 27, 2001 — An ordinance adding terri ory to the Elgin Enterprise Zone
(Spalding and West Bartlett Road area—Ame en Development).
7. April 10, 2002 — an ordinance authorizing t e abatement of taxes on property
within the enterprise zone (Ameren Developm-nt).
8. October 27, 2004 — An ordinance adding to Story to the City of Elgin Enterprise
Zone (Route 20 TIF Area).
9. October 27, 2004—An ordinance extending t e term of the Elgin Enterprise Zone
(12-31-2015).
10. October 27, 2004 — An ordinance amendii g Building Materials Sales Tax
Exemption of the Elgin Enterprise Zone.
11. October 27, 2004 — An ordinance Amending Ordinance S5-02 Authorizing the
Abatement of Taxes on Property within the ElLin Enterprise Zone.
The proposed ordinance adds territory to the Elgin Enterpris; Zone. Staff has agreed to include
the new Siemens facility project area within an enterprise zone as part of a series of incentives
offered to Siemens to encourage the company to locate its n-w wind energy production facility
in the City of Elgin. Phase I of the Siemens project will see t e construction of a 170,000 square
foot manufacturing facility. The facility is projected to -xpand to 330,000 square feet of
manufacturing space. A total of 355 new jobs are expected to be created.
Prior to the adoption of the above referenced ordinance, th- City is required to hold a public
hearing regarding the enterprise zone's geographic extension. The public hearing will take place
on June 25 at the regularly scheduled City Council meeting.
In addition to expanding the enterprise zone to include the ne development site for the Siemens
project, the City has applied for and received a grant in the an ount of$150,000 from the Illinois
Department of Commerce and Economic Opportunity that will be used for the purchase of
equipment at the 950 Tollgate Road facility that is also ope ated by Siemens. Also, City staff
has agreed to recommend the award an incentive of$95,000 for 95 new jobs at the Randall Point
Property that will earn $40,000 or more per year in wages ex•luding benefit costs. Staff has also
proposed an incentive totaling $80,000 that may be applied to the cost of City fees or equipment
purchases.
Geographic Expansion of Elgin Enterprise Zone
June 19, 2008
Page 3
COMMUNITY GROUPS/INTERESTED PERSONS CONTACTED
None
FINANCIAL IMPACT
The major impact of the application of the enterprise zone i centive is the loss of sales tax on
building materials related to the construction project for t ose building materials purchased
within the State of Illinois. For this project, the estimated m ximum sales tax abatement would
equal $635,500.
Sales Tax Impact—State of Illinois - $492,000
Sales Tax Impact—City of Elgin - $143,500
LEGAL IMPACT
None
ALTERNATIVES
1. The City Council may choose to approve the propo ed ordinance expanding the Elgin
Enterprise Zone.
2. The City Council may choose not to approve the proposed ordinance expanding the Elgin
Enterprise Zone.
Respectfully submitted for Council consideration.
RM