Title
AN ORDINANCE PROVIDING FOR SALES TAX REBATE AND REAL ESTATE TAX ABATEMENT
Body
WHEREAS, the home rule authority of the Village of Orland Park, as well as Sections 8-1-2.5 and 8-11-20 (65 ILCS 5/8-1-2.5 and 5/8-11-20) provides authority for the Village to rebate Retailers’ Occupation and Service Occupation Taxes (“Sales Taxes”) as well as to abate its taxes in relation to specific property as an economic development incentive; and
WHEREAS, in “An Intergovernmental Agreement Among the Village of Orland Park, Consolidated High School District 230, Orland School District 135, Orland Fire Protection District, Board of Library Trustees of the Village of Orland Park and Von Maur, Inc. Relative to the Development of the former Carson Pirie Scott & Co. Property,” dated October 17, 2018 (“IGA”), the President and Board of Trustees of the Village previously determined it to be in its best interests to abate a portion of its taxes on the real estate legally described in Exhibit A-1, attached hereto and made a part hereof (“Subject Property”), in order to encourage a commercial firm to redevelop the Subject Property; and
WHEREAS, the conditions of the IGA for the rebate of Sales Taxes and abatement of a portion of the taxes on the Subject Property have been met; and
WHEREAS, in the IGA, this President and Board Trustees previously determined such rebate of Sales Taxes and abatement of taxes to be in the best interests of its tax payers in order to encourage a commercial firm to redevelop the Subject Property, increase the tax base, and increase employment opportunities; and
NOW, THEREFORE, Be It Ordained by the President and Board of Trustees of the Village of Orland Park, Cook and Will Counties, Illinois, as follows:
SECTION 1
This President and Board of Trustees hereby finds that all of the recitals contained in the preambles to this Ordinance are full, true and correct and does now incorporate the same herein by reference.
SECTION 2
The County Clerk of...
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