2014-66 ESTABLISHING THE DECATUR MACON COUNTY ENTERPRISE ZONE

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Book: 4410 Page: 665 $50,000 or such amount as may be stipulated in state statute. The parties to the Enterprise Zone Intergovernmental Agreement shall have no liability for payment of such fee. SECTION 6—TAX INCREMENT FINANCING DISTRICT OR REDEVELOPMENT AREA OVERLAY. In the event that a Tax Increment Financing (TIF) District or redevelopment district or project area (20 ILCS 655/5.4.1) is,will be, or has been created by a municipality under Division 74.4 of the Illinois Municipal Code, and said redevelopment project area contains property that is located in an enterprise zone, and the municipality adopts an enterprise zone designating ordinance pursuant to Section 5.4 of the Act specifically concerning the abatement of taxes on property,as in Section 2 above, located within a redevelopment project area created pursuant to Division 74.4 of the Illinois Municipal Code,and the Department certifies the Ordinance,then the property that is located in both the enterprise zone and the redevelopment project area shall not be eligible for the abatement of taxes un er Section 18-170 of the Illinois Property Tax Code. SECTION 7—NO TAX LEVY OBJECTION. Taxpayers receiving Decatur Macon County Enterprise Zone property tax abatement under the terms and conditions of Section 2 above, must agree that they shall not file an objection to the real estate property taxes levied on the Site and/or Facilities or the property tax assessment on the Site and/or Facilities. In the event any real estate property tax protest or objection is filed for the subject property,the Enterprise Zone property tax abatement for the subject property shall automatically terminate. SECTION 8— NO ASSIGMENT OR TRANSFER. Decatur Macon County Enterprise Zone property tax abatement shall be specifically granted to the applicant and may not be assigned to or transferred without the written consent of the Decatur Macon County Enterprise Zone Administrator, with the advice and consent of the Enterprise Zone Advisory Board, on behalf of the taxing bodies. In the event that the applicant desires to transfer or assign any or all of its ownership of the subject property where the business located thereon, the transferee shall submit a written request to the Decatur Macon County Enterprise Zone Administrator requesting transfer of the abatement to the new owner for the time remaining on the abatement. The Decatur Macon County Enterprise Zone Administrator, with the advice and consent of the Enterprise Zone Advisory Board, shall review the taxpayer's request to transfer said abatement, and determine the taxpayer's eligibility for such transfer, subject to the terms and conditions of SECTION 2 above and the applicable MOU. The Decatur Macon County Enterprise Zone Administrator shall notify the affected taxing bodies that such a request has been made and the action taken by the Administrator to address the transfer request. Page 9 of 11