R2021-182 Resolution Approving an Amendment to the Decatur Macon County Enterprise Zone Intergovernmental Agreement

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B) Term. The term of the Zone will be for 15 years commencing on January 1, 2016, and ending at midnight on December 31, 2030, or until such time as the Zone has expired, been decertified by the Department or repealed by the General Assembly or by ordinance of the designating governmental entities, whichever is sooner. After the 13th year,the zone is subject to review by the state Enterprise Zone Board for an additional 10-year designation beginning on the expiration date of the enterprise zone. During the review process,the state Enterprise Zone Board shall consider the costs incurred by the state and units of local government as a result of tax benefits received by the enterprise zone before granting the extension. Upon approval of the state Enterprise Zone Board and certification by the Department,the Zone may further be in effect for an additional 10 years, beginning January 1, 2031. C) Zone Administration. The parties to this Agreement desire and concur that the administration of the Enterprise Zone shall be under the jurisdiction of the Economic Development Corporation of Decatur and Macon County(EDC), and more specifically the Zone Administrator shall be the CEO/President of the EDC as outlined in Section IV and V below. D) Administration Fees. As allowed by the Act,the Administrator of the Decatur Macon County Enterprise Zone is hereby authorized to collect an Administration Fee for the issuance of Sales Tax Exemption Certificates for Construction Materials from entities requesting said exemption, in order to offset the management and operational costs associated with the Administration of the Zone. Said fee shall be equal to .5 percent (1/2%) of the documented cost of building materials for each project up to a maximum of$50,000 per Certificate (20 ILCS 655/8.2c). The Zone Administrator, with the advice and consent of the Enterprise Zone Advisory Board, may also elect to collect a processing fee for related Enterprise Zone activities such as boundary amendment applications,technical correction applications, and/or other applications resulting in an amendment to the Zone or Zone operating procedures, which may change from time to time. At no time will all fees combined,which are related to a single project, exceed $50,000 or such amount as may be stipulated in state statute. The parties to this Agreement shall have no liability for payment of such fee. E) Provisions for Tax Abatement. The parties to this agreement recognize the individual Enterprise Zone property tax abatement policies of the Designating Units of Government,set forth below and in their respective Designating Ordinances and Resolutions.The parties further agree that the taxpayer receiving eligible property tax abatement within the Decatur Macon County Enterprise Zone,subject to certification and/or as certified by the Department, will be subject to certain terms and conditions in the Memorandum of Understanding between said taxpayer and the Decatur Macon County Enterprise Zone Administrator as also outlined below.