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File #: 18-2562    Version: 1 Name: AUTHORIZING EXECUTION OF AN INTERGOVERNMENTAL AGREEMENT FOR COST SHARING AND START-UP ACTIVITIES RELATED TO THE ESTABLISHMENT OF THE WEST REGIONAL ENTERPRISE ZONE
Type: Resolution Status: Approved
File created: 3/6/2018 In control: Business and Economic Development Committee
On agenda: 3/14/2018 Final action: 5/16/2018
Title: PROPOSED RESOLUTION AUTHORIZING EXECUTION OF AN INTERGOVERNMENTAL AGREEMENT FOR COST SHARING AND START-UP ACTIVITIES RELATED TO THE ESTABLISHMENT OF THE WEST REGIONAL ENTERPRISE ZONE WHEREAS, the State of Illinois has enacted the "Illinois Enterprise Zone Act" (the "Act"), 20 ILCS 655/1 et al., to alleviate distressed economic conditions in certain depressed areas; and WHEREAS, the Act permits units of local government to designate depressed areas within the boundaries of the local governments as enterprise zones for the purpose of obtaining certain state tax and regulatory incentives to encourage economic development and neighborhood revitalization; and WHEREAS, the Village of Maywood has, in the past, had an enterprise zone consisting only of territory within the Village; and WHEREAS, the Village now desires to participate in the creation of a new larger enterprise zone, to be known as the West Regional Enterprise Zone (the "Enterprise Zone"), along with the Village of Bellw...
Sponsors: TONI PRECKWINKLE (President), RICHARD R. BOYKIN, JEFFREY R. TOBOLSKI
title
PROPOSED RESOLUTION

AUTHORIZING EXECUTION OF AN INTERGOVERNMENTAL AGREEMENT FOR COST SHARING AND START-UP ACTIVITIES RELATED TO THE ESTABLISHMENT OF THE WEST REGIONAL ENTERPRISE ZONE

WHEREAS, the State of Illinois has enacted the "Illinois Enterprise Zone Act" (the "Act"), 20 ILCS 655/1 et al., to alleviate distressed economic conditions in certain depressed areas; and

WHEREAS, the Act permits units of local government to designate depressed areas within the boundaries of the local governments as enterprise zones for the purpose of obtaining certain state tax and regulatory incentives to encourage economic development and neighborhood revitalization; and

WHEREAS, the Village of Maywood has, in the past, had an enterprise zone consisting only of territory within the Village; and

WHEREAS, the Village now desires to participate in the creation of a new larger enterprise zone, to be known as the West Regional Enterprise Zone (the "Enterprise Zone"), along with the Village of Bellwood ("Bellwood"), the Village of Broadview ("Broadview"), the Village of Melrose Park ("Melrose Park"), and the County of Cook ("Cook County") (collectively, the "Participating Local Governments"); and

WHEREAS, the Enterprise Zone shall be established through adoption of ordinances by the Participating Local Governments, by entering into an Intergovernmental Agreement relative to governance, regulatory incentives, and other aspects related to the Enterprise Zone, submission of an application for designation to the Illinois Department of Commerce and Economic Opportunity ("DCEO"), designation by the State, and through compliance with the public hearing and other requirements of the Act; and

WHEREAS, the Participating Local Governments have determined that there exists an initial need to jointly cooperate relative to establishing the Enterprise Zone, to share certain of the costs of establishing the Enterprise Zone, and to enter into an Intergovernmental Agreement relative to...

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