|
|||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||
| |||||||||||||||||||||||||||
| |||||||||||||||||||||||||||
| |||||||||||||||||||||||||||
1 | AN ACT concerning local government.
| ||||||||||||||||||||||||||
2 | Be it enacted by the People of the State of Illinois,
| ||||||||||||||||||||||||||
3 | represented in the General Assembly:
| ||||||||||||||||||||||||||
4 | Section 5. The County Economic Development Project Area | ||||||||||||||||||||||||||
5 | Property
Tax Allocation Act is amended by changing Sections 3 | ||||||||||||||||||||||||||
6 | and 4 as follows:
| ||||||||||||||||||||||||||
7 | (55 ILCS 85/3) (from Ch. 34, par. 7003)
| ||||||||||||||||||||||||||
8 | Sec. 3. Definitions. In this Act, words or terms shall have | ||||||||||||||||||||||||||
9 | the
following meanings unless the context usage clearly | ||||||||||||||||||||||||||
10 | indicates that another
meaning is intended.
| ||||||||||||||||||||||||||
11 | (a) "Department" means the Department of Commerce and | ||||||||||||||||||||||||||
12 | Economic Opportunity.
| ||||||||||||||||||||||||||
13 | (b) "Economic development plan" means the written plan of a | ||||||||||||||||||||||||||
14 | county which
sets forth an economic development program for an | ||||||||||||||||||||||||||
15 | economic development
project area. Each economic development | ||||||||||||||||||||||||||
16 | plan shall include but not be
limited to (1) estimated economic | ||||||||||||||||||||||||||
17 | development project costs, (2) the
sources of funds to pay such | ||||||||||||||||||||||||||
18 | costs, (3) the nature and term of any
obligations to be issued | ||||||||||||||||||||||||||
19 | by the county to pay such costs, (4) the most
recent equalized | ||||||||||||||||||||||||||
20 | assessed valuation of the economic development project
area, | ||||||||||||||||||||||||||
21 | (5) an estimate of the equalized assessed valuation of the | ||||||||||||||||||||||||||
22 | economic
development project area after completion of the | ||||||||||||||||||||||||||
23 | economic development plan,
(6) the estimated date of completion |
| |||||||
| |||||||
1 | of any economic development
project proposed to be undertaken, | ||||||
2 | (7) a general description of any
proposed developer, user, or | ||||||
3 | tenant of any property to be located or
improved within the | ||||||
4 | economic development project area, (8) a description of
the | ||||||
5 | type, structure and general character of the facilities to be | ||||||
6 | developed
or improved in the economic development project area, | ||||||
7 | (9) a description of
the general land uses to apply in the | ||||||
8 | economic development project area,
(10) a description of the | ||||||
9 | type, class and number of employees to be
employed in the | ||||||
10 | operation of the facilities to be developed or improved in
the | ||||||
11 | economic development project area and (11) a commitment by the | ||||||
12 | county
to fair employment practices and an affirmative action | ||||||
13 | plan with respect to
any economic development program to be | ||||||
14 | undertaken by the county.
| ||||||
15 | (c) "Economic development project" means any development | ||||||
16 | project in
furtherance of the objectives of this Act.
| ||||||
17 | (d) "Economic development project area" means any improved | ||||||
18 | or vacant
area which is located within the corporate limits of | ||||||
19 | a county and which (1)
is within the unincorporated area of | ||||||
20 | such county, or, with the consent of
any affected municipality, | ||||||
21 | is located partially within the unincorporated
area of such | ||||||
22 | county and partially within one or more municipalities, (2) is
| ||||||
23 | contiguous, (3) is not less in the aggregate than 100 acres, | ||||||
24 | (4) is
suitable for siting by any commercial, manufacturing, | ||||||
25 | industrial, research
or transportation enterprise of | ||||||
26 | facilities to include but not be limited to
commercial |
| |||||||
| |||||||
1 | businesses, offices, factories, mills, processing plants,
| ||||||
2 | assembly plants, packing plants, fabricating plants, | ||||||
3 | industrial or
commercial distribution centers, warehouses, | ||||||
4 | repair overhaul or service
facilities, freight terminals, | ||||||
5 | research facilities, test facilities or
transportation | ||||||
6 | facilities, whether or not such area has been used at any
time | ||||||
7 | for such facilities and whether or not the area has been used | ||||||
8 | or is
suitable for such facilities and whether or not the area | ||||||
9 | has been used or
is suitable for other uses, including | ||||||
10 | commercial agricultural purposes, and
(5) which has been | ||||||
11 | certified by the Department pursuant to this Act.
| ||||||
12 | (e) "Economic development project costs" means and | ||||||
13 | includes the sum
total of all reasonable or necessary costs | ||||||
14 | incurred by a county incidental
to an economic development | ||||||
15 | project, including, without limitation, the
following:
| ||||||
16 | (1) Costs of studies, surveys, development of plans and | ||||||
17 | specifications,
implementation and administration of an | ||||||
18 | economic development plan,
personnel and professional | ||||||
19 | service costs for architectural, engineering,
legal, | ||||||
20 | marketing, financial, planning, sheriff, fire, public | ||||||
21 | works or other
services, provided that no charges for | ||||||
22 | professional services may be based
on a percentage of | ||||||
23 | incremental tax revenue . ;
| ||||||
24 | (2) Property assembly costs within an economic | ||||||
25 | development project area,
including but not limited to | ||||||
26 | acquisition of land and other real or personal
property or |
| |||||||
| |||||||
1 | rights or interests therein, and specifically including | ||||||
2 | payments
to developers or other non-governmental persons | ||||||
3 | as reimbursement for property
assembly costs incurred by | ||||||
4 | such developer or other non-governmental person . ;
| ||||||
5 | (3) Site preparation costs, including but not limited | ||||||
6 | to clearance of
any area within an economic development | ||||||
7 | project area by demolition or
removal of any existing | ||||||
8 | buildings, structures, fixtures, utilities and
| ||||||
9 | improvements and clearing and grading; and including | ||||||
10 | installation, repair,
construction, reconstruction, or | ||||||
11 | relocation of public streets, public
utilities, and other | ||||||
12 | public site improvements within or without an economic
| ||||||
13 | development project area which are essential to the | ||||||
14 | preparation of the
economic development project area for | ||||||
15 | use in accordance with an economic
development plan; and | ||||||
16 | specifically including payments to developers or
other | ||||||
17 | non-governmental persons as reimbursement for site | ||||||
18 | preparation costs
incurred by such developer or | ||||||
19 | non-governmental person . ;
| ||||||
20 | (4) Costs of renovation, rehabilitation, | ||||||
21 | reconstruction, relocation,
repair or remodeling of any | ||||||
22 | existing buildings, improvements, and fixtures
within an | ||||||
23 | economic development project area, and specifically | ||||||
24 | including
payments to developers or other non-governmental | ||||||
25 | persons as reimbursement
for such costs incurred by such | ||||||
26 | developer or non-governmental person . ;
|
| |||||||
| |||||||
1 | (5) Costs of construction within an economic | ||||||
2 | development project area of
public improvements, including | ||||||
3 | but not limited to, buildings, structures,
works, | ||||||
4 | improvements, utilities or fixtures . ;
| ||||||
5 | (6) Financing costs, including but not limited to all | ||||||
6 | necessary and
incidental expenses related to the issuance | ||||||
7 | of obligations, payment of any
interest on any obligations | ||||||
8 | issued hereunder which accrues during the
estimated period | ||||||
9 | of construction of any economic development project for
| ||||||
10 | which such obligations are issued and for not exceeding 36 | ||||||
11 | months
thereafter, and any reasonable reserves related to | ||||||
12 | the issuance of such
obligations . ;
| ||||||
13 | (7) All or a portion of a taxing district's capital | ||||||
14 | costs resulting from
an economic development project | ||||||
15 | necessarily incurred or estimated to be
incurred by a | ||||||
16 | taxing district in the furtherance of the objectives of an
| ||||||
17 | economic development project, to the extent that the county | ||||||
18 | by written
agreement accepts, approves and agrees to incur | ||||||
19 | or to reimburse such costs . ;
| ||||||
20 | (8) Relocation costs to the extent that a county | ||||||
21 | determines that
relocation costs shall be paid or is | ||||||
22 | required to make payment of relocation
costs by federal or | ||||||
23 | State law . ;
| ||||||
24 | (9) The estimated tax revenues from real property in an | ||||||
25 | economic
development project area acquired by a county | ||||||
26 | which, according to the
economic development plan, is to be |
| |||||||
| |||||||
1 | used for a private use and which any
taxing district would | ||||||
2 | have received had the county not adopted property tax
| ||||||
3 | allocation financing for an economic development project | ||||||
4 | area and
which would result from such taxing district's | ||||||
5 | levies made after the time
of the adoption by the county of | ||||||
6 | property tax allocation financing to the
time the current | ||||||
7 | equalized assessed value of real property in the economic
| ||||||
8 | development project area exceeds the total initial | ||||||
9 | equalized value of real
property in that area . ;
| ||||||
10 | (10) Costs of rebating ad valorem taxes paid by any | ||||||
11 | developer or other
nongovernmental person in whose name the | ||||||
12 | general taxes were paid for the
last preceding year on any | ||||||
13 | lot, block, tract or parcel of land in the
economic | ||||||
14 | development project area, provided that:
| ||||||
15 | (i) such economic development project area is | ||||||
16 | located in an enterprise
zone created pursuant to the | ||||||
17 | Illinois Enterprise Zone Act;
| ||||||
18 | (ii) such ad valorem taxes shall be rebated only in | ||||||
19 | such amounts and for
such tax year or years as the | ||||||
20 | county and any one or more affected taxing
districts | ||||||
21 | shall have agreed by prior written agreement;
| ||||||
22 | (iii) any amount of rebate of taxes shall not | ||||||
23 | exceed the portion, if
any, of taxes levied by the | ||||||
24 | county or such taxing district or districts
which is | ||||||
25 | attributable to the increase in the current equalized | ||||||
26 | assessed
valuation of each taxable lot, block, tract or |
| |||||||
| |||||||
1 | parcel of real property in
the economic development | ||||||
2 | project area over and above the initial equalized
| ||||||
3 | assessed value of each property existing at the time | ||||||
4 | property tax allocation
financing was adopted for said | ||||||
5 | economic development project area; and
| ||||||
6 | (iv) costs of rebating ad valorem taxes shall be | ||||||
7 | paid by a county solely
from the special tax allocation | ||||||
8 | fund established pursuant to this Act and
shall be paid | ||||||
9 | from the proceeds of any obligations issued by a | ||||||
10 | county.
| ||||||
11 | (11) Costs of job training, advanced vocational | ||||||
12 | education or career
education programs, including but not | ||||||
13 | limited to courses in occupational,
semi-technical or | ||||||
14 | technical fields leading directly to employment, incurred
| ||||||
15 | by one or more taxing districts, provided that such costs | ||||||
16 | are related to
the establishment and maintenance of | ||||||
17 | additional job training, advanced
vocational education or | ||||||
18 | career education programs for persons employed or
to be | ||||||
19 | employed by employers located in an economic development | ||||||
20 | project
area, and further provided, that when such costs | ||||||
21 | are incurred by a taxing
district or taxing districts other | ||||||
22 | than the county, they shall be set forth
in a written | ||||||
23 | agreement by or among the county and the taxing district
or | ||||||
24 | taxing districts, which agreement describes the program to | ||||||
25 | be
undertaken, including, but not limited to, the number of | ||||||
26 | employees to be
trained, a description of the training and |
| |||||||
| |||||||
1 | services to be provided, the
number and type of positions | ||||||
2 | available or to be available, itemized costs
of the program | ||||||
3 | and sources of funds to pay the same, and the term of the
| ||||||
4 | agreement. Such costs include, specifically, the payment | ||||||
5 | by community
college districts of costs pursuant to Section | ||||||
6 | 3-37, 3-38, 3-40 and 3-40.1
of the Public Community College | ||||||
7 | Act and by school districts of costs
pursuant to Sections | ||||||
8 | 10-22.20 and 10-23.3a of the School Code . ;
| ||||||
9 | (12) Private financing costs incurred by developers or | ||||||
10 | other
non-governmental persons in connection with an | ||||||
11 | economic development
project, and specifically including | ||||||
12 | payments to developers or other
non-governmental persons | ||||||
13 | as reimbursement for such costs incurred by such
developer | ||||||
14 | or other non-governmental persons provided that:
| ||||||
15 | (A) private financing costs shall be paid or | ||||||
16 | reimbursed by a county only
pursuant to the prior | ||||||
17 | official action of the county evidencing an intent to
| ||||||
18 | pay such private financing costs;
| ||||||
19 | (B) except as provided in subparagraph (D) of this | ||||||
20 | Section, the
aggregate amount of such costs paid or | ||||||
21 | reimbursed by a county in any one
year shall not exceed | ||||||
22 | 30% of such costs paid or incurred by such developer
or | ||||||
23 | other non-governmental person in that year;
| ||||||
24 | (C) private financing costs shall be paid or | ||||||
25 | reimbursed by a county
solely from the special tax | ||||||
26 | allocation fund established pursuant to this
Act and |
| |||||||
| |||||||
1 | shall not be paid or reimbursed from the proceeds of | ||||||
2 | any
obligations issued by a county;
| ||||||
3 | (D) if there are not sufficient funds available in | ||||||
4 | the special tax
allocation fund in any year to make | ||||||
5 | such payment or reimbursement in full,
any amount of | ||||||
6 | such private financing costs remaining to be paid or
| ||||||
7 | reimbursed by a county shall accrue and be payable when | ||||||
8 | funds are available
in the special tax allocation fund | ||||||
9 | to make such payment; and
| ||||||
10 | (E) in connection with its approval and | ||||||
11 | certification of an economic
development project | ||||||
12 | pursuant to Section 5 of this Act, the Department shall
| ||||||
13 | review any agreement authorizing the payment or | ||||||
14 | reimbursement by a county
of private financing costs in | ||||||
15 | its consideration of the impact on the
revenues of the | ||||||
16 | county and the affected taxing districts of the use of
| ||||||
17 | property tax allocation financing.
| ||||||
18 | (13) In the case of an economic development project | ||||||
19 | area established under subsection (a-15) of Section 4 of | ||||||
20 | this Act, costs associated with reconstruction and | ||||||
21 | expansion of a county highway.
| ||||||
22 | (f) "Obligations" means any instrument evidencing the | ||||||
23 | obligation of a
county to pay money, including without | ||||||
24 | limitation, bonds, notes,
installment or financing contracts, | ||||||
25 | certificates, tax anticipation warrants
or notes, vouchers, | ||||||
26 | and any other evidence of indebtedness.
|
| |||||||
| |||||||
1 | (g) "Taxing districts" means municipalities, townships, | ||||||
2 | counties, and
school, road, park, sanitary, mosquito | ||||||
3 | abatement, forest preserve, public
health, fire protection, | ||||||
4 | river conservancy, tuberculosis sanitarium and any
other | ||||||
5 | county corporations or districts with the power to levy taxes | ||||||
6 | on
real property.
| ||||||
7 | (Source: P.A. 94-793, eff. 5-19-06.)
| ||||||
8 | (55 ILCS 85/4) (from Ch. 34, par. 7004)
| ||||||
9 | Sec. 4. Establishment of economic development project | ||||||
10 | area;
ordinance; joint review board; notice; hearing; changes | ||||||
11 | in economic
development plan; annual reporting requirements. | ||||||
12 | Economic development
project areas shall be established as | ||||||
13 | follows:
| ||||||
14 | (a)
The corporate authorities of Whiteside County may by | ||||||
15 | ordinance propose the establishment of an economic
development | ||||||
16 | project area and fix a time and place for a public hearing, and
| ||||||
17 | shall submit a certified copy of the ordinance as adopted to | ||||||
18 | the Department.
| ||||||
19 | (a-5) After the effective date of this amendatory Act of | ||||||
20 | the 93rd General Assembly, the corporate authorities of | ||||||
21 | Stephenson County may by ordinance propose the establishment of | ||||||
22 | an economic development project area and fix a time and place | ||||||
23 | for a public hearing, and shall submit a certified copy of the | ||||||
24 | ordinance as adopted to the Department.
| ||||||
25 | (a-10) The corporate authorities of Grundy County may, by |
| |||||||
| |||||||
1 | ordinance, propose the establishment of an economic | ||||||
2 | development project and fix a time and place for a public | ||||||
3 | hearing. Upon passage of the ordinance, the corporate | ||||||
4 | authorities of Grundy County shall submit a certified copy of | ||||||
5 | the ordinance, as adopted, to the Department.
| ||||||
6 | (a-15) The corporate authorities of any county may, by | ||||||
7 | ordinance, propose the establishment of an economic | ||||||
8 | development project area and fix a time and place for a public | ||||||
9 | hearing. An economic development project area established | ||||||
10 | under this subsection shall share a border with a county | ||||||
11 | highway, and shall not extend more than 2 miles from the county | ||||||
12 | highway in any direction. The economic development project area | ||||||
13 | may not extend into any municipal tax increment financing | ||||||
14 | district that exists on the date the ordinance is passed. The | ||||||
15 | proposed economic development project area shall not extend | ||||||
16 | outside of the boundaries of the county.
| ||||||
17 | (b) Any county which adopts an ordinance which fixes a | ||||||
18 | date, time and
place for a public hearing shall convene a joint | ||||||
19 | review board as
hereinafter provided. Not less than 45 days | ||||||
20 | prior to the date fixed for
the public hearing, the county | ||||||
21 | shall give notice by mailing to the chief
executive officer of | ||||||
22 | each affected taxing district having taxable property
included | ||||||
23 | in the proposed economic development project area and, if the | ||||||
24 | ordinance is adopted by Stephenson County, the chief executive | ||||||
25 | officer of any municipality within Stephenson County having a | ||||||
26 | population of more than 20,000 that such chief
executive |
| |||||||
| |||||||
1 | officer or his designee is invited to participate in a joint
| ||||||
2 | review board. The designee shall serve at the discretion of the | ||||||
3 | chief
executive officer of the taxing district for a term not | ||||||
4 | to exceed 2 years.
Such notice shall advise each chief | ||||||
5 | executive officer of the date, time and
place of the first | ||||||
6 | meeting of such joint review board, which shall occur
not less | ||||||
7 | than 30 days prior to the date of the public hearing. Such | ||||||
8 | notice
by mail shall be given by depositing such notice in the | ||||||
9 | United States
Postal Service by certified mail.
| ||||||
10 | At or prior to the first meeting of such joint review board | ||||||
11 | the county
shall furnish to any member of such joint review | ||||||
12 | board copies of the
proposed economic development plan and any | ||||||
13 | related documents which such
member shall reasonably request. A | ||||||
14 | majority of the members of such joint
review board present at | ||||||
15 | any meeting shall constitute a quorum. Additional
meetings may | ||||||
16 | be called by any member of a joint review board upon the
giving | ||||||
17 | of notice not less than 72 hours prior to the date of any | ||||||
18 | additional
meeting to all members of the joint review board. | ||||||
19 | The joint review board
shall review such information and | ||||||
20 | material as its members reasonably deem
relevant to the | ||||||
21 | county's proposals to approve economic development plans
and | ||||||
22 | economic development projects and to designate economic | ||||||
23 | development
project areas. The county shall provide such | ||||||
24 | information and material
promptly upon the request of the joint | ||||||
25 | review board and may also provide
administrative support and | ||||||
26 | facilities as the joint review board may
reasonably require.
|
| |||||||
| |||||||
1 | Within 30 days of its first meeting, a joint review board | ||||||
2 | shall provide
the county with a written report of its review of | ||||||
3 | any proposal to approve
an economic development plan and | ||||||
4 | economic development project and to
designate an economic | ||||||
5 | development project area. Such written report shall
include | ||||||
6 | such information and advisory, nonbinding recommendations as a
| ||||||
7 | majority of the members of the joint review board shall deem | ||||||
8 | relevant.
Written reports of joint review boards may include | ||||||
9 | information and
advisory, nonbinding recommendations provided | ||||||
10 | by a minority of the members
thereof. Any joint review board | ||||||
11 | which does not provide such written report
within such 30-day | ||||||
12 | period shall be deemed to have recommended that the
county | ||||||
13 | proceed with a proposal to approve an economic development plan | ||||||
14 | and
economic development project and to designate an economic | ||||||
15 | development
project area.
| ||||||
16 | (c) Notice of the public hearing shall be given by | ||||||
17 | publication and
mailing.
| ||||||
18 | (1) Notice by publication shall be given by publication | ||||||
19 | at least
twice, the first publication to be not more than | ||||||
20 | 30 nor less than 10 days
prior to the hearing in a | ||||||
21 | newspaper of general circulation within the
taxing | ||||||
22 | districts having property in the proposed economic | ||||||
23 | development
project area. Notice by mailing shall be given | ||||||
24 | by depositing such notice
together with a copy of the | ||||||
25 | proposed economic development plan in the
United States | ||||||
26 | Postal Service by certified mail addressed to the person or
|
| |||||||
| |||||||
1 | persons in whose name the general taxes for the last | ||||||
2 | preceding year were
paid on each lot, block, tract, or | ||||||
3 | parcel of land lying within the proposed
economic | ||||||
4 | development project area. The notice shall be mailed not | ||||||
5 | less
than 10 days prior to the dates set for the public | ||||||
6 | hearing. In the event
taxes for the last preceding year | ||||||
7 | were not paid, the notice shall also be
sent to the persons | ||||||
8 | last listed on the tax rolls within the preceding 3
years | ||||||
9 | as the owners of the property.
| ||||||
10 | (2) The notices issued pursuant to this Section shall | ||||||
11 | include the
following:
| ||||||
12 | (A) The time and place of public hearing;
| ||||||
13 | (B) The boundaries of the proposed economic | ||||||
14 | development project area
by legal description and by | ||||||
15 | street location where possible;
| ||||||
16 | (C) A notification that all interested persons | ||||||
17 | will be given an
opportunity to be heard at the public | ||||||
18 | hearing;
| ||||||
19 | (D) An invitation for any person to submit | ||||||
20 | alternative proposals or bids
for any proposed | ||||||
21 | conveyance, lease, mortgage or other disposition of | ||||||
22 | land
within the proposed economic development project | ||||||
23 | area;
| ||||||
24 | (E) A description of the economic development plan | ||||||
25 | or economic
development project if a plan or project is | ||||||
26 | a subject matter of the
hearing; and
|
| |||||||
| |||||||
1 | (F) Such other matters as the county may deem | ||||||
2 | appropriate.
| ||||||
3 | (3) Not less than 45 days prior to the date set for | ||||||
4 | hearing, the county
shall give notice by mail as provided | ||||||
5 | in this subsection (c) to all taxing
districts of which | ||||||
6 | taxable property is included in the economic development
| ||||||
7 | project area, and to the Department. In addition to the | ||||||
8 | other requirements
under this subsection (c), the notice | ||||||
9 | shall include an invitation to the
Department and each | ||||||
10 | taxing district to submit comments to the county
concerning | ||||||
11 | the subject matter of the hearing prior to the date of the | ||||||
12 | hearing.
| ||||||
13 | (d) At the public hearing any interested person, the | ||||||
14 | Department or any
affected taxing district may file written | ||||||
15 | objections with the county clerk
and may be heard orally with | ||||||
16 | respect to any issues embodied in the notice.
The county shall | ||||||
17 | hear and determine all alternate proposals or bids for any
| ||||||
18 | proposed conveyance, lease, mortgage or other disposition of | ||||||
19 | land and all
protests and objections at the hearing, and the | ||||||
20 | hearing may be adjourned to
another date without further notice | ||||||
21 | other than a motion to be entered upon
the minutes fixing the | ||||||
22 | time and place of the adjourned hearing. Public
hearings with | ||||||
23 | regard to an economic development plan, economic development
| ||||||
24 | project area, or economic development project may be held | ||||||
25 | simultaneously.
| ||||||
26 | (e) At the public hearing, or at any time prior to the |
| |||||||
| |||||||
1 | adoption by the
county of an ordinance approving an economic | ||||||
2 | development plan, the county
may make changes in the economic | ||||||
3 | development plan. Changes which (1) alter
the exterior | ||||||
4 | boundaries of the proposed economic development project area,
| ||||||
5 | (2) substantially affect the general land uses established in | ||||||
6 | the proposed
economic development plan, (3) substantially | ||||||
7 | change the nature of the
proposed economic development plan, | ||||||
8 | (4) change the general description
of any proposed developer, | ||||||
9 | user or tenant of any property to be located or
improved within | ||||||
10 | the economic development project area, or (5) change the
| ||||||
11 | description of the type, class and number of employees to be | ||||||
12 | employed in
the operation of the facilities to be developed or | ||||||
13 | improved within the
economic development project area shall be | ||||||
14 | made only after review by joint
review board, notice and | ||||||
15 | hearing pursuant to the procedures set forth in
this Section. | ||||||
16 | Changes which do not (1) alter the exterior boundaries of a
| ||||||
17 | proposed economic development project area, (2) substantially | ||||||
18 | affect the
general land uses established in the proposed plan, | ||||||
19 | (3) substantially
change the nature of the proposed economic | ||||||
20 | development plan, (4) change the
general description of any | ||||||
21 | proposed developer, user or tenant of any
property to be | ||||||
22 | located or improved within the economic development project
| ||||||
23 | area, or (5) change the description of the type, class and | ||||||
24 | number of
employees to be employed in the operation of the | ||||||
25 | facilities to be developed
or improved within the economic | ||||||
26 | development project area may be made
without further notice or |
| |||||||
| |||||||
1 | hearing, provided that the county shall give
notice of its | ||||||
2 | changes by mail to the Department and to each affected taxing
| ||||||
3 | district and by publication in a newspaper or newspapers of | ||||||
4 | general
circulation with the affected taxing districts. Such | ||||||
5 | notice by mail and by
publication shall each occur not later | ||||||
6 | than 10 days following the adoption
by ordinance of such | ||||||
7 | changes.
| ||||||
8 | (f) At any time within 90 days of the final adjournment
of | ||||||
9 | the public hearing, a county may, by ordinance, approve the | ||||||
10 | economic
development plan, establish the economic development | ||||||
11 | project area, and
authorize property tax allocation financing | ||||||
12 | for such economic development
project area. | ||||||
13 | Any ordinance adopted by Whiteside County which approves | ||||||
14 | the economic
development plan shall contain findings that the | ||||||
15 | economic development
project is reasonably expected to create | ||||||
16 | or retain not less than 500
full-time equivalent jobs, that | ||||||
17 | private investment in an amount not less
than $25,000,000 is | ||||||
18 | reasonably expected to occur in the
economic
development | ||||||
19 | project area, that the economic development project will
| ||||||
20 | encourage the increase of commerce and industry within the | ||||||
21 | State, thereby
reducing the evils attendant upon unemployment | ||||||
22 | and increasing opportunities
for personal income, and that the | ||||||
23 | economic development project will
increase or maintain the | ||||||
24 | property, sales and income tax bases of the county
and of the | ||||||
25 | State.
| ||||||
26 | Any ordinance adopted by Grundy County that approves the |
| |||||||
| |||||||
1 | economic
development plan shall contain findings that the | ||||||
2 | economic development
project is reasonably expected to create | ||||||
3 | or retain not less than 250
full-time equivalent jobs, that | ||||||
4 | private investment in an amount not less
than $50,000,000 is | ||||||
5 | reasonably expected to occur in the
economic
development | ||||||
6 | project area, that the economic development project will
| ||||||
7 | encourage the increase of commerce and industry within the | ||||||
8 | State, thereby
reducing the evils attendant upon unemployment | ||||||
9 | and increasing opportunities
for personal income, and that the | ||||||
10 | economic development project will
increase or maintain the | ||||||
11 | property, sales, and income tax bases of the county
and of the | ||||||
12 | State.
| ||||||
13 | Any ordinance adopted by Stephenson County that approves an | ||||||
14 | economic development plan shall contain findings that (i) the | ||||||
15 | economic development project is reasonably expected to create | ||||||
16 | or retain not less than 500 full-time equivalent jobs; (ii) | ||||||
17 | private investment in an amount not less than $10,000,000 is | ||||||
18 | reasonably expected to occur in the economic development area; | ||||||
19 | (iii) the economic development project will encourage the | ||||||
20 | increase of commerce and industry within the State, thereby | ||||||
21 | reducing the evils attendant upon unemployment and increasing | ||||||
22 | opportunities for personal income; and (iv) the economic | ||||||
23 | development project will increase or maintain the property, | ||||||
24 | sales, and income tax bases of the county and of the State. | ||||||
25 | Before the economic development project area is established by | ||||||
26 | Stephenson County, the following additional conditions must be |
| |||||||
| |||||||
1 | included in an intergovernmental agreement approved by both the | ||||||
2 | Stephenson County Board and the corporate authorities of the | ||||||
3 | City of Freeport: (i) the corporate authorities of the City of | ||||||
4 | Freeport must concur by resolution with the findings of | ||||||
5 | Stephenson County; (ii) both the corporate authorities of the | ||||||
6 | City of Freeport and the Stephenson County Board shall approve | ||||||
7 | any and all economic or redevelopment agreements and incentives | ||||||
8 | for any economic development project within the economic | ||||||
9 | development area; (iii) any economic development project that | ||||||
10 | receives funds under this Act, except for any economic | ||||||
11 | development project specifically excluded from annexation in | ||||||
12 | the provisions of the intergovernmental agreement, shall agree | ||||||
13 | to and must enter into an annexation agreement with the City of | ||||||
14 | Freeport to annex property included in the economic development | ||||||
15 | project area to the City of Freeport at the first point in time | ||||||
16 | that the property becomes contiguous to the City of Freeport; | ||||||
17 | (iv) the local share of all State occupation and use taxes | ||||||
18 | allocable to the City of Freeport and Stephenson County and | ||||||
19 | derived from commercial projects within the economic | ||||||
20 | development project area shall be equally shared by and between | ||||||
21 | the City of Freeport and Stephenson County for the duration of | ||||||
22 | the economic development project; and (v) any development in | ||||||
23 | the economic development project area shall be built in | ||||||
24 | accordance with the building and related codes of both the City | ||||||
25 | of Freeport and Stephenson County and the City of Freeport | ||||||
26 | shall approve all provisions for water and sewer service.
|
| |||||||
| |||||||
1 | The ordinance shall also state that the economic | ||||||
2 | development project area
shall not include parcels to be used | ||||||
3 | for purposes of residential
development.
Any ordinance adopted | ||||||
4 | which establishes an economic
development project area shall | ||||||
5 | contain the boundaries of such area by legal
description and, | ||||||
6 | where possible, by street location. Any ordinance adopted
which | ||||||
7 | authorizes property tax allocation financing shall provide | ||||||
8 | that the
ad valorem taxes, if any, arising from the levies upon | ||||||
9 | taxable real
property in such economic development project area | ||||||
10 | by taxing districts and
tax rates determined in the manner | ||||||
11 | provided in subsection (b) of Section 6
of this Act each year | ||||||
12 | after the effective date of the ordinance until
economic | ||||||
13 | development project costs and all county obligations financing
| ||||||
14 | economic development project costs incurred under this Act have | ||||||
15 | been paid
shall be divided as follows:
| ||||||
16 | (1) That portion of taxes levied upon each taxable lot, | ||||||
17 | block, tract or
parcel of real property which is | ||||||
18 | attributable to the lower of the current
equalized assessed | ||||||
19 | value or the initial equalized assessed value of each
such | ||||||
20 | taxable lot, block, tract or parcel of real property in the | ||||||
21 | economic
development project area shall be allocated to, | ||||||
22 | and when collected, shall
be paid by the county collector | ||||||
23 | to the respective affected taxing districts
in the manner | ||||||
24 | required by law in the absence of the adoption of property | ||||||
25 | tax
allocation financing.
| ||||||
26 | (2) That portion, if any, of such taxes which is |
| |||||||
| |||||||
1 | attributable to the
increase in the current equalized | ||||||
2 | assessed valuation of each taxable lot,
block, tract or | ||||||
3 | parcel of real property in the economic development project
| ||||||
4 | area over and above the initial equalized assessed value of | ||||||
5 | each property
in the economic development project area | ||||||
6 | shall be allocated to and when
collected shall be paid to | ||||||
7 | the county treasurer who shall deposit those
taxes into a | ||||||
8 | special fund called the special tax allocation fund of the
| ||||||
9 | county for the purpose of paying economic development | ||||||
10 | project costs and
obligations incurred in the payment | ||||||
11 | thereof.
| ||||||
12 | (g) After a county has by ordinance approved an economic | ||||||
13 | development plan
and established an economic development | ||||||
14 | project area, the plan may be
amended and the boundaries of the | ||||||
15 | area may be altered only as herein
provided. Amendments which | ||||||
16 | (1) alter the exterior boundaries of an
economic development | ||||||
17 | project area, (2) substantially affect the general
land uses | ||||||
18 | established pursuant to the economic development plan, (3)
| ||||||
19 | substantially change the nature of the economic development | ||||||
20 | plan, (4)
change the general description of any proposed | ||||||
21 | developer, user, or tenant
of any property to be located or | ||||||
22 | improved within the economic development
project area, or (5) | ||||||
23 | change the description of the type, class and number
of | ||||||
24 | employees to be employed in the operation of the facilities to | ||||||
25 | be
developed or improved shall be made only after review by a | ||||||
26 | joint review
board, notice and hearing pursuant to the |
| |||||||
| |||||||
1 | procedures set forth in this
Section. Amendments which do not | ||||||
2 | (1) alter the exterior boundaries of an
economic development | ||||||
3 | project area, (2) substantially affect the general
land uses | ||||||
4 | established in the economic development plan, (3) | ||||||
5 | substantially
change the nature of the economic development | ||||||
6 | plan, (4) change the
description of any proposed developer, | ||||||
7 | user, or tenant of any property to
be located or improved | ||||||
8 | within the economic development project area, or (5)
change the | ||||||
9 | description of the type, class and number of employees to be
| ||||||
10 | employed in the operation of the facilities to be developed or | ||||||
11 | improved
within the economic development project area may be | ||||||
12 | made without further
hearing or notice, provided that the | ||||||
13 | county shall give notice of any
amendment by mail to the | ||||||
14 | Department and to each taxing district and by
publication in a | ||||||
15 | newspaper or newspapers of general circulation within the
| ||||||
16 | affected taxing districts. Such notices by mail and by | ||||||
17 | publication shall
each occur not later than 10 days following | ||||||
18 | the adoption by ordinance of
such amendments.
| ||||||
19 | (h) After the adoption of an ordinance adopting property | ||||||
20 | tax allocation
financing for an economic development project | ||||||
21 | area, the county
shall annually report to each taxing district | ||||||
22 | having taxable property
within such economic development | ||||||
23 | project area (i) any increase or decrease
in the equalized | ||||||
24 | assessed value of the real property located within such
| ||||||
25 | economic development project area above or below the initial | ||||||
26 | equalized
assessed value of such real property, (ii) that |
| |||||||
| |||||||
1 | portion, if any, of the ad
valorem taxes arising from the | ||||||
2 | levies upon taxable real property in such
economic development | ||||||
3 | project area by the taxing districts which is
attributable to | ||||||
4 | the increase in the current equalized assessed valuation of
| ||||||
5 | each lot, block, tract or parcel of real property in the | ||||||
6 | economic
development project area over and above the initial | ||||||
7 | equalized value of each
property and which has been allocated | ||||||
8 | to the county in the current year,
and (iii) such other | ||||||
9 | information as the county may deem relevant.
| ||||||
10 | (i) The county shall give notice by mail as provided in | ||||||
11 | this Section and
shall reconvene the joint review board not | ||||||
12 | less than annually for each of
the 2 years following its | ||||||
13 | adoption of an ordinance adopting property tax
allocation | ||||||
14 | financing for an economic development project area and not less
| ||||||
15 | than once in each 3-year period thereafter. The county shall | ||||||
16 | provide such
information, and may provide administrative | ||||||
17 | support and facilities as the
joint review board may reasonably | ||||||
18 | require for each of such meetings.
| ||||||
19 | (Source: P.A. 93-959, eff. 8-20-04; 94-259, eff. 1-1-06.)
|