Illinois Compiled Statutes 65 ILCS 115 River Edge Redevelopment Zone Act. Section 10-5.1

    (65 ILCS 115/10-5.1)

    Sec. 10-5.1. Application to Department. A municipality that has adopted an ordinance designating an area as a river edge redevelopment zone shall make written application to the Department to have the proposed zone certified. The application shall include:

        (1) a certified copy of the ordinance designating the

    proposed zone;

        (2) a map of the proposed zone;

        (3) an analysis, and any appropriate supporting

    documents, demonstrating that the proposed zone area is qualified in accordance with Section 10-4;

        (4) a statement detailing any tax, grant, and other

    financial incentives or benefits, and any programs, to be provided by the municipality to business enterprises or organizations within the zone, other than those provided in the designating ordinance, which are not to be provided throughout the municipality;

        (5) a statement setting forth the economic

    development and planning objectives for the zone;

        (6) an estimate of the economic impact of the zone,

    considering all of the tax incentives, financial benefits and programs contemplated, upon the revenues of the municipality;

        (7) a transcript of all public hearings on the zone;

        (8) a statement describing the functions, programs,

    and services to be performed by designated zone organizations within the zone; and

        (9) such additional information as the Department by

    rule may require.

(Source: P.A. 94-1021, eff. 7-12-06.)

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Last modified: February 18, 2015