HomeMy WebLinkAboutOrdinances - O-89-515.A - 10/11/1989 - ABATE RE TAXES BRAKE PARTS_ • s
ORDINANCE NO. 0-89-515.A
AN ORDINANCE PROVIDING FOR AN ABATEMENT OF REAL ESTATE TAXES
UPON THE PROPERTY OF BRAKE PARTS CORPORATION BY
THE CITY OF MCHENRY, MCHENRY COUNTY, ILLINOIS
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF MCHENRY,
COUNTY OF MCHENRY, STATE OF ILLINOIS, as follows:
WHEREAS, BRAKE PARTS CORPORATION is constructing a new
facility within the City of McHenry, County of McHenry, State of
Illinois;
WHEREAS, said facility is an expansion of a previously
existing facility within the City of McHenry, County of McHenry,
State of Illinois; and,
WHEREAS, Section 162 of the Revenue Act of 1939
(Ill.Rev.Stat., 1987, Ch. 120. Sec. 643) provides in pertinent part
as follows:
"Any taxing district, upon a majority vote of its
governing body, may, after the determination of the
assessed valuation of its property, order the clerk of
that county to abate any portion of its taxes on the
property of any commercial or industrial firm locating
within the taxing district during the immediately
preceding calendar year from another state, territory or
country, or (having been newly created within this state
during the immediately preceding calendar year) or for an
(expanded previously existing facility). Such abatement
shall not exceed a period of 10 years and the total
aggregate amount of abated taxes for all taxing districts
combined shall not exceed $1,000,000.00."
WHEREAS, the aforesaid facility of BRAKE PARTS CORPORATION
qualifies for tax abatement under Section 162 of the Revenue Act of
1939 either as a newly created commercial or industrial firm or the
expansion of a previously existing facility;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF MCHENRY, MCHENRY COUNTY, ILLINOIS, AS FOLLOWS:
SECTION 1. All real estate taxes extended by the County of
McHenry against assessed value of the improvements on the following
described real estate:
Lot 1 in McHenry Corporate Center, Unit No. 1, a subdivision
in McHenry County, Illinois. P.I.N. 114-10-200-003.
for the levy of the City of McHenry, be and they are hereby abated
in the following percentage amounts and for the following years:
1
YEAR PERCENTAGE BY ABATEMENT
1991 80%
1992 60%
1993 40%
1994 20%
SECTION 2. Nothing herein contained shall authorize the
abatement of total aggregate abated taxes for all taxing districts
applicable to the subject property in an amount exceeding
$1,000,000.00.
SECTION 3. All money heretofore paid or paid under protest,
or real estate taxes on the property described in Section 1 hereof
to or on behalf of the City of McHenry, shall be refunded to the
taxpayer. This Ordinance shall be sufficient authority for the
City Treasurer to make such refund.
SECTION 4. The City Clerk shall file a certified copy of this
Ordinance in the offices of the Clerk and the Treasurer of the
County of McHenry, Illinois after the effective date of this
Ordinance.
SECTION 5. 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 6. 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 11TH DAY OF OCTOBER, 1989.
AYES BOLGER. DONAHUE, LIEDER, TETA, SMITH, McCLATCHEY, PATTERSON
and SERRITELLA
NAYS NONE
ABSTAIN NONE
ABSENT NONE
NOT VOTING NONE
APPROVED THIS 11TH DAY OF OCTOBER, 1
yor
ATTEST:
City Clerk
E