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i n <br /> � <br /> � ' <br /> ' . • <br /> . •�. � � � <br /> ORDINANCE NO. % � D <br /> ORDINANCE AMENDING CERTAIN TAX INCENTIVES <br /> PROVIDED FOR IN ENTERPRISE ZONE <br /> - REAL PROPERTY TAXES - <br /> WHEREAS, the City Council of the City of Decatur, by <br /> Ordinance No. 82-122, passed and approved December 29, 1982, <br /> establishing an Enterprise Zone within the City, pursuant to law, <br /> and provided therein for the abatement of taxes on real property <br /> under certain conditions; and, <br /> WHEREAS, the Council now desires to amend the aforesaid tax <br /> abatement. <br /> NOW, THEREFORE, BE IT ORDAINED, BY THE CITY COUNCIL OF THE <br /> CITY OF DECATUR, ILLINOIS: <br /> Section 1. That Section 5 of Ordinance No. 82-122 be, and <br /> the same is hereby, modified and amended so that as so modified <br /> and amended said Section 5 provides as follows: <br /> "Section 5. That commencing upon the issuance of an amended <br /> certificate by the Department of Commerce and Community Affairs <br /> of the State of Illinois ("DECCA") approving that which is set <br /> forth herein, taxes on real property levied by the City shall be <br /> abated on property located within the Zone and upon which new <br /> ' improvements have been constructed subsequent to such approval by <br /> DECCA, as follows: <br /> Value of Improvement Tax Abatement Period <br /> 0-$49,999 0 0 <br /> $50,000-$1, 000, 000 100� Value of For a period of 5 <br /> Improvement calendar years or <br /> for the remaining <br /> life of the Zone, <br /> whichever period <br /> is shorter <br /> $1,000,000-$2,999,999 100� Value of For a period of 5 <br /> Zmprovement calendar years or <br /> for the remaining <br /> life of the Zone, <br /> whichever period <br /> is shorter <br />� <br />