Title
Resolution authorizing amendments to the Lake County Economic Incentive Policy.
Staff Summary
• Lake County adopted an Economic Incentive Policy in August, 2015 to have options to provide economic incentive packages for various businesses throughout the County.
• The policy provides Sales Tax and Property Tax abatement as available options to encourage economic development.
• The policy requires amendment to include the Monsanto Environmental Contamination Settlement Funds as a potential option for use, in alignment with the Board-adopted guidelines.
• Staff has also included an option for Economic Incentive Funding when appropriated funds are available.
• The use of any option included in the policy is subject to Board approval.
Body
RESOLUTION
WHEREAS, Lake County adopted an Economic Incentive Policy in August, 2015 to have options to provide economic incentive packages for various businesses throughout the County; and
WHEREAS, the policy requires amendment to include the Monsanto Environmental Contamination Settlement Funds as a potential option for use, in alignment with Board-adopted guidelines; and
WHEREAS, an option has been included for Economic Incentive Funding when appropriated funds are available.
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that the attached Economic Incentive Policy is amended to include Monsanto Environmental Contamination Settlement Funds and Economic Incentive Funds as options for use.
DATED at Waukegan, Illinois, on November 10, 2026.