HomeMy WebLinkAboutOrdinances - MC-86-379 - 12/10/1986 - Ch 23 Tax AbatementsORDINANCE NO. MC-86-379
AN ORDINANCE
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
MCHENRY, MCHENRY COUNTY, ILLINOIS, AS FOLLOWS:
WHEREAS Illinois Revised Statutes, Chapter 120, Section
643 expressly authorize the City of McHenry, upon a majority
vote of the City Council, after the determination of the
assessed valuation of its property, to order the County
Clerk to abate any portion of its taxes on the property of
any industrial firm locating within the City of McHenry,
Illinois during the immediately preceeding calendar year
from another state, territory, or country, or having been
newly created within this State during the immediately
preceeding calendar year, or for an expanded previously
existing facility, providing that such abatement shall not
exceed a period of ten years and the total aggregate amount
of the abated taxes shall not exceed One Million Dollars
($1,000,000.00); and,
WHEREAS the Mayor and City Council desire to provide
tax abatement incentives, pursuant to the aforesaid
statutory authority, to certain qualified industrial firms
to locate their industrial faclities in McHenry, Illinois or
to expand their existing McHenry facilities.
NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF MCHENRY, MCHENRY COUNTY, ILLINOIS, as follows:
SECTION 1. The Municipal Code, City of McHenry,
Illinois be and the same is hereby amended by adding thereto
the following provisions as and for Article IV of Chapter
23 thereof:
Section 23-40 The City Council of the City of
McHenry, Illinois will consider granting tax abatement
on the City share of the property tax for any new
industrial plant construction by an industrial firm
considering locating in the City of McHenry, Illinois
from out of state and for existing or newly created
McHenry industrial firms considering the construction
of new facilities or the expansion of existing
McHenry facilities.
Section 23-41 Any industrial firm from out of
state or from the City of McHenry, Illinois wishing to
request tax abatement for any proposed new construction
shall contact the Office of the Mayor for the purpose
of having the request referred to the Finance Committee
of the City Council for evaluation and recommendation
to the full Council. The request of the applicant
shall be accompanied by the name and location of the
firm, the estimated fair market value of the new
construction, the estimated number of new employees to
be added as a consequence of said construction the tax
year in which the first tax abatement is requested to
commence, and such other information as the applicant,
the Mayor and Finance Committee deem desirable.
Section 23-42 Upon receipt of a recommendation
from the Finance Committee concerning the request for
tax abatement, the City Council, in its sole
discretion, may pass a resolution to abate any portion
of its taxes on said property for any period of time up
to, but not exceeding, ten (10) years. Any resolution
awarding a tax abatement should, as a minimum, specify
the amount of the taxes abated (the amount to be either
in the form of a percentage or dollar figure), the
number of years for which such abatement is awarded and
the specific tax years to which such abatement
applies.
Section 23-43 The Mayor will advise the applicant
by letter of the action taken by the City Council.
Thereafer, contemporaneously with the enactment of the
annual levy ordi"ance, the City Council and the Mayor
shall, without further request from the applicant,
enact an appropriate tax abatement ordinance or
ordinances and shall file the same with the County
Clerk in sufficient time to implement such tax
abatements for the tax years in question.
-2-
SECTION 2. All ordinances, or parts thereof, in
conflict with the terms and provisions hereof, be and the
same are hereby repealed to the extent of such conflict.
SECTION 3. This ordinance shall be published in
phamplet form by and under the authority of the Corporate
Authorities of the City of McHenry, Illinois.
SECTION 4. This ordinance shall be in full force and
effect from and after its passage, approval and publication
in pamphlet form, as provided by law.
PASSED THIS loth DAY OF December, 1986.
AYES: Eger, Li eder, McCI atchev Serri tel 1 a - Smith, Snell- TPta _
NAYS : None
ABSTAIN: None
ABSENT: Nol an
NOT VOTING: Non —
APPROVED THIS loth DAY OF December, 1986.
ATTEST:
r
XF . W542. Rl", - 6 4- -A
-3-