Illinois State Statute provides that a municipality may enter into an Economic Incentive Agreement with the purpose of development or redevelopment of land within its corporate limits. Sales tax rebates are an economic incentive tool that the City of Geneva has used on a case-by-case basis when recruiting new businesses and encouraging development. Historically, the City has shared or rebated a percentage of its allocated portion of the Illinois Retailers' Occupation Tax generated by the retail sales of the property. A sales tax rebate agreement has a capped rebate amount and timeframe. The City judiciously follows criteria and requirements set forth in the Economic Incentive Policy to determine if financial assistance will be granted.