HomeMy WebLinkAboutOrdinance #0989~„"'
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ORDINANCE NO. q~q
AN ORDINANCE AMENDING ORDINANCE NUMBER 959 (BEING: "AN ORDINANCE
INITIATING AND COOPERATIVELY DESIGNATING AN ENTERPRISE ZONE")
WHEREAS, the Canton City Council has determined that it is necessary
snd in the best interest of the City of Canton to amend Ordinance #959,
passed by the City Council on or about December 27, 1982.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
CANTON, Fulton County, Illinois as follows:
1. That Appendix "C", "Tax Incentives", appended to and approved
by the aforesaid Ordinance Number 959 is hereby amended to read as
set forth in Appendix "C", "Amended Tax Incentives", hereto attached
and herein fully incorporated by reference.
2. That, to the extent inconsistant herewith, the aforesaid
Ordinance Number 959 and Appendix "C" thereto attached are hereby
repealed.
3. That this Ordinance shall be in full force and effect immediately
upon its passage by the City Council of the City of Canton, Fulton
County, Illinois, and approval by the Mayor thereof.
PASSED by the City Council of the City of Canton, Fulton County,
Illinois, at a regular meeting this 6th day of September ,
1983, upon a roll. call vote as follows:
AYES: Aldermen Kovachevich, Hammond, Savill, Workman, Carl, May,
Horr.
NAYS: None.
ABSENT: Alderman Sarff.
APPROVED:
J
Donald E. Edwards, Mayor.
ATTEST:
Nan y Whit s, City Clerk.
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AMENDED
APPENDIX C
TAX INCENTIVES
A. Property Tax Abatement
Property Tax Abatement may be granted by the City of Canton on
individual parcels within the Enterprise Zone on a case-by-case basis,
pursuant to the provisions of Sections 162 and 162e of the Illinois
Revenue Act. The City reserves the right to abate any and all tax
that the City may impose on said real property within the limitations
established by law. Whether and to what extent to grant tax abatement
shall be determined by the Canton City Council at such time as a proper
request is duly made by an eligible property owner within the Zone.
B. Sales Tax Reimbursement
Any retailer whose place of business is within the corporate
limits of the City of Canton and who makes a sale of building materials
to be incorporated into improvements to real estate in the Enterprise
Zone by remodeling, rehabilitation, or new construction, may file a
claim for credit or refund to recover the amount of tax paid under the
Municipal Retailers' Occupation Tax Act pursuant to Section 5k of the
Illinois Revenue Act.
Building permits for remodeling, rehabilitation, or new construction
shall issue prior to such remodeling, rehabilitation or new construction
and shall be plainly marked on their face "Enterprise Zone Approved" by
the City's Building Official and by the Zone Administrator. Presentation
of a copy of such building permit shall constitute a prima facie case
for claiming such credit or refund.