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SECTION IV: ZONEMANAGEMENTCOSTSANDOPERATION
A.
Staff salary and fringe benefits of theZoneAdministrator shall be determined and paid
by theParty employing the individual.
B.
Operating expenses for the administration of theZonemay include, but are not limited
to:
1.
Expenses related to promoting theZone, e.g., brochure production and
dissemination, television and newspaper advertising, workshops and
presentations, travel.
2.
Clerical, copying, printing, postage andminor equipment expenses associated
withZoneAdministrativeBoardmeetings, activities of theBoard and reporting
to theState of Illinois.
C.
TheVillage, City and theCounty shall share expenses of Zonemanagement. The
Village, City, orCounty shall have the right to opt out of theEnterpriseZone upon the
passage of an appropriate ordinance and thirty (30) day’s notice to the othermembers of
theEnterpriseZone.
SECTIONV: PROGRAMSESTABLISHED
The followingprograms are established and authorizedwithin the zone in accordancewith the
EnterpriseZoneAct.
A.
PropertyTaxAbatement
TheParties authorize and direct theCountyClerk to abate ad valorum taxes imposed
upon real property locatedwithin theEnterpriseZone, uponwhich new improvements
have been constructed or uponwhich existing improvements have been renovated or
rehabilitated, subject to the following conditions:
1.
Such abatement shall be for a period of five (5) years following the issuance of
an occupancypermit and shall be for a percentage of the total value of such
improvements as follows:
Year 1
100%
Year 2
80%
Year 3
60%
Year 4
40%
Year 5
20%
2.
Such abatement shall be allowed only for commercial, industrial,manufacturing,
andwarehousingpropertywithin theEnterpriseZone in general and provided
that such remodeling, rehabilitation, or new construction is of such a nature and
scope forwhich a buildingpermit is required and has been obtained.
3.
The improvements are to be commenced after the certification of theEnterprise
Zone by theDepartment ofCommerce andEconomicOpportunity and an
