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PROPOSED ORDINANCE
SUBSTITUTE ITEM NO. 18-6017
PROPOSED SUBSTITUTE ORDINANCE
(Business and Economic Development Committee 11/13/2018)
WEST REGIONAL ENTERPRISE ZONE
AN ORDINANCE FOR THE ESTABLISHMENT OF AN ENTERPRISE ZONE IN THE VILLAGE OF BELLWOOD, THE VILLAGE OF BROADVIEW, THE VILLAGE OF MAYWOOD, THE VILLAGE OF MELROSE PARK AND COOK COUNTY, ILLINOIS SUBJECT TO THE ENTERPRISE ZONE ACT OF THE STATE OF ILLINOIS.
WHEREAS, the State of Illinois Enterprise Zone Act, 20 ILCS 655/1 et seq., as amended (the "Act") provides for the creation of enterprise zones to encourage private sector investments, stimulate business and industrial growth in economically distressed areas as well as neighborhood revitalization by relaxing government controls and tax incentives throughout the State; and
WHEREAS, the Village of Bellwood, the Village of Broadview, the Village of Maywood, the Village of Melrose Park (collectively, the "Municipalities") and the County of Cook (the "County"), corporate bodies politic organized and existing under the laws of that State of Illinois, each have areas within their respective legal boundaries that are economically distressed with a disproportionate number of residents who have suffered pervasive poverty, unemployment and economic distress related to prolonged economic transformation, shifts of industries throughout the region, and a variety of other factors. These factors have negatively affected areas that would benefit from private sector investments within an Enterprise Zone; and
WHEREAS, these factors have negatively affected areas that would benefit from private sector investments with an Enterprise Zone; and
WHEREAS, the Municipalities and County seek approval and certification by the State of Illinois of the West Regional Enterprise Zone (hereafter referred to as "the Zone"); and
WHEREAS, if approved, businesses who are owned by minorities, women and persons with disabilities, as defined under the Business Enterprise for M...
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