49220371.2
Section II: Establishment of EnterpriseZone. TheCountyBoardof Kankakee
County herewith establishes anEnterpriseZone under theprovisions of the
IllinoisEnterpriseZoneAct. TheEnterpriseZone is established in cooperation
with other local units of government, specifically, theVillage of Manteno, the
Village of Grant Park, theCity of Momence and theVillageof HopkinsPark.
Section III: Boundaries of EnterpriseZone. TheEnterpriseZonearea identified
is describedby legal descriptionandmap, attached heretoandmade apart
hereof as “Exhibit A” and “Exhibit B”, respectively.
Section IV: Requirements of Act. TheCity of Momence hereby declares and
affirms that theEnterpriseZonearea is qualified for designationas anEnterprise
Zone inaccordancewith the provisions of the “IllinoisEnterpriseZoneAct”, and
further affirms that:
(a) the zonearea is contiguous;
(b) the zonearea comprises aminimum of one-half squaremile and not
more than fifteen squaremiles in total area; and
(c) the zoneareameets the qualifications established inSection4of the
“IllinoisEnterpriseZoneAct.”
SectionV: ProgramsEstablished. TheCounty, in an effort to facilitate economic
growthwithin theEnterpriseZone area hereby provides the following tax
incentives, credits, abatements, reimbursements or programswithin the
EnterpriseZone:
(a) The exception of buildingmaterials from theStateof Illinois and local
portions of theRetailers’ OccupationTax as provided inSection5Kof
the IllinoisRetailers’ OccupationTaxAct, 35 ILCS 120/5K (the “ROT
Act”); and
(b) TheUtilityTax exemption as provided inSection 9-222.1 of thePublic
UtilitiesAct, 220 ILCS5/9-222.1; and
(c) PropertyTaxAbatement: The property taxwill be abated for industrial,
manufacturing and commercial real property. Suchabatement shall be
for a periodof five (5) years following the issuance of anoccupancy
permit and shall be for a percentageof the total value of such
improvements as follows:
Year 1
100%
Year 2
80%
Year 3
60%
Year 4
40%
Year 5
20%
