PROPOSED SUBSTITUTE TO FILE 17-0293
BUSINESS AND ECONOMIC DEVELOPMENT COMMITTEE 3/22/2017
Sponsored by: JES?S G. GARCIA, Cook County Board of Commissioner
TAX INCENTIVE ORDINANCE
BE IT ORDAINED, by the Cook County Board of Commissioners, that Chapter 74 TAXATION, ARTICLE II REAL PROPERTY TAXATION, DIVISION 1. - GENERALLY, Sec. 74-46 AND DIVISION 2. - CLASSIFICATION SYSTEM FOR ASSESSMENT, Sec. 74-62 through Sec. 74-73, of the Cook County Code are hereby amended as follows:
Sec. 74-46. - Bureau of Economic Development Property Tax Incentive Program Fee.
Cook County Bureau of Economic Development shall charge the following processing fees in connection with the property tax incentive program review conducted by the Bureau of Economic Development:
(a) All property tax incentive applications received by the Cook County Assessor, as provided for in Division 2 of this Article, that require a Cook County Board of Commissioners Resolution of support shall be assessed a fee of $1,000.00, except for Class 7a projects where the total development costs are less than $1,000,000. Upon submission of the property tax incentive application to the Bureau of Economic Development, the applicant seeking the incentive and Resolution of support shall pay a non-refundable fee to the County of Cook to cover administrative costs related to processing the application.
(b) All property tax incentive applications received by the Cook County Assessor, as provided for in Division 2 of this Article, that require a Resolution of support from the Economic Development Advisory Committee (EDAC) shall be assessed a fee of $2,500.00, except for Class 7c projects where the total development costs are less than $1,000,000. Upon submission of the property tax incentive application to the Bureau of Economic Development, the applicant seeking the incentive and Resolution of support shall pay a non-refundable fee to the County of Cook to cover administrative costs related to processing the application.
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