S32-04 Ordinance No. S32-04
AN ORDINANCE
AMENDING ORDINANCE NO. S5-02 AUTHORIZING THE ABATEMENT OF TAXES
ON PROPERTY WITHIN THE ELGIN ENTERPRISE ZONE
WHEREAS, the City of Elgin, Illinois, a municipal corporation (hereinafter referred to as
"City") is a home rule unit of government under the Illinois Constitution of 1970, Article VII,
Section 6; and
WHEREAS,Ordinance No.G70-82,passed on December 22, 1982,and Ordinance No. G71-
89, passed July 26, 1989, designated an enterprise zone (hereinafter referred to as the "Elgin
Enterprise Zone")pursuant to the Illinois Enterprise Zone Act(20 ILCS 655/5.1 et seq.;hereinafter
referred to as the "Act"), as amended, subject to the approval of the Illinois Department of
Commerce and Community Affairs, now the Illinois Department of Commerce and Economic
Opportunity and hereinafter referred to as "State"), and subject to the provisions of the Act; and
WHEREAS,Ordinance No. S5-02,passed on April 10,2002,authorized and directed to the
Kane County Clerk to abate ad valorem taxes imposed upon real property located within the Elgin
Enterprise Zone upon which new improvements have been constructed or upon which existing
improvements have been renovated or rehabilitated, subject to certain conditions; and
WHEREAS, the State certified the Elgin Enterprise Zone effective on July 1, 1985; and
WHEREAS, the City has made subsequent amendments and modifications to the Elgin
Enterprise Zone that have subsequently been approved by the State; and
WHEREAS, the City has passed an ordinance amending the building materials sales tax
exemption of the Elgin Enterprise Zone under the Act, as Ordinance No. S31-04; and
WHEREAS, the City has passed an ordinance extending the term of the Elgin Enterprise
Zone pursuant to the Act as Ordinance No. S30-04; and
WHEREAS, the City has passed an ordinance to add territory to the Elgin Enterprise Zone
pursuant to the Act as Ordinance No. S29-04.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
ELGIN, ILLINOIS:
Section 1. That Ordinance No. S5-02 be and is hereby amended by amending Subsection b
of Section 1 to read as follows:
b) such abatement shall be allowed only for industrial, residential or
rcommercial property located within the Elgin Enterprise Zone area, provided,
however,that no such abatement shall be applicable to any such improvement project
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District within the boundaries of the Tax Increment Redevelopment Project Districts
as set forth in Ordinance Numbers G73-85;G74-85;S8-86;S9-86;S2-02;S3-02,S4-
02; S26-04; S27-04 or S28-04;
Section 2. That Ordinance No. S5-02 be and is hereby amended by amending Subsection d
of Section 1 to read as follows:
d) such abatement shall be at the rate of 100% of the value of the
improvements on commercial, industrial and residential property for a period of five
years; 80%for the sixth year; 60%for the seventh year;40%for the eighth year;20%
for the ninth year,and no abatement shall apply thereafter;provided,however,that all
such abatements shall terminate on December 31, 2015; and
Section 3. That this ordinance shall be in full force and effect immediately after its
passage, approval, recording and publication in accordance with law, and after the State has
approved and certified the application for amendment to the Elgin Enterprise Zone pursuant to
Section 5.4 of the Act.
Ed Schock, Mayor
rik
Presented: October 27, 2004
Passed: October 27, 2004
Omnibus Vote: Yeas: 6 Nays: 0
Recorded: October 28, 2004
Published:
Attest:
Dolonna Mecum, City Clerk