Changes To Ordinance Amendment Since February Board Meeting

Municipalities in Industrial Growth Zones can choose how they want to support applications,
through the traditional resolution/ordinance process or an expedited application process where
a local official designated by the municipality supplies an authorized letter of support.

Municipalities in Retail Corridors can choose how they want to support applications, through the
traditional resolution/ordinance process or an expedited application process where a local
official designated by the municipality supplies an authorized letter of support.

For Industrial Growth Zone applicants who use the option of an expedited application process,
the Bureau of Economic Development will verify the subject property is in an Industrial Growth
Zone and there is appropriate documentation authorizing an official to support the application
on behalf of the municipality. The Bureau will forward such applications to the Assessors office.

For Retail Corridor applicants the Bureau of Economic Development will verify the subject
property is in a Retail Corridor and there is appropriate documentation authorizing an official to
support the application on behalf of the municipality. The Bureau will forward such applications
to the Assessors office.

Economic Disclosure Statements must be in the form of an affidavit and delivered to the
municipality.

Information and materials covered by Class 8 and Class L reports filed by the Assessor narrowed,
reports to be directed to the Chairman of the Business and Economic Development Committee
of the Cook County Board.

Applicants and/or lessees of properties receiving a property tax incentive must file a Compliance
with Laws affidavit.

Applicants and/or lessees of industrial properties must file a Living Wage affidavit.

Areas Not Changed Since February Board Meeting

Living Wage will apply to employers with 20 or more employees who occupy property that is
receiving an industrial property tax incentive. Raising the threshold significantly higher would
greatly dilute the coverage of the Living Wage. Increasing the threshold from one (1) employee
to 20 employees is a reasonable compromise while at the same time extending the applicability
of the Living Wage requirement to lessee occupied employers.

Applicants will have to file Economic Disclosure Statements. Property tax incentives are
valuable tools and there should be assurance provided to the municipality about who the
applicant is, what other real estate in Cook County they own and whether they are current on
their property taxes.
 Revocation will be available for Class 6b, 6b TEERM, 6b SER, 7a, 7b, 7c, 8 and 8 TEERM
incentives. The current Ordinance already allows for revocation for Class 7c incentives and we
are expanding this current authority to other incentives to increase accountability. Revocation
is not mandated, it is simply an option.