T2-85 �r• Ordinance No. T2-85
[ AN ORDINANCE
ABATING THE CITY OF ELGIN'S PORTION OF CERTAIN SALES TAXES
WHEREAS, the City of Elgin designated an Enterprise Zone on December 17, 1984,
under Ordinance No. G63-84; and
WHEREAS, the City of Elgin has submitted an application to the State of Illinois
Department of Commerce and Community Affairs for Enterprise Zone certification
under the Illinois Enterprise Zone Act (Public Act 82-1019; and
WHEREAS, Ordinance No. G63-84 incorporated provisions for local Enterprise Zone
reinvestment incentives; and
WHEREAS, the Illinois Enterprise Zone Act provides for abatement of the local and
state sales tax levied under the Retailer's Occupation Tax Act; and
WHEREAS, the City of Elgin has determined that it is desirable to abate sales tax
on building materials purchased in the City of Elgin for rehabilitation, reconstruction
and construction in the designated Elgin Enterprise Zone; and
WHEREAS, for the purposes of this ordinance, building materials shall be defined as
materials which become part of realty or a structure within the Elgin Enterprise Zone;
and
WHEREAS, the City of Elgin has proposed a procedure to effect the abatement of
sales taxes on building materials used within the Elgin Enterprise Zone.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
ELGIN, ILLINOIS:
Section I . That the City of Elgin shall abate its portion of the sales tax levied
under the Retailer's Occupation Tax Act for building materials used in the rehabilitation,
reconstruction and construction of real estate improvements located in the designated
Elgin Enterprise Zone.
Section 2. That such abatement shall be effective upon State of Illinois certifica-
tion of the Elgin Enterprise Zone.
Section 3. That such abatement shall continue in effect for the term of Enter-
prise Zone certification.
Section 4. That the City Manager is authorized to establish formal procedures to
effect such tax abatement.
Section 5. That this ordinance shall be in full force and effect from and after its
passage in the manner provided by law.
s/ Richard L. Verbic
Richard L. Verbic, Mayor
Presented: January 28, 1985
Passed: January 28, 1985
Vote: Yeas 7 Nays 0
Recorded:
Published:
Attest:
s/ Marie Yearman
Marie Yearman, City Clerk