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INTERGOVERNMENTAL AGREEMENT <br /> NEXT LEVEL NORTHWEST (NLNW) BUSINESS ACCELERATOR <br /> THIS INTERGOVERNMENTAL AGREEMENT NEXT LEVEL NORTHWEST(NLNW) <br /> BUSINESS ACCELERATOR AGREEMENT("Agreement") dated the day of 2017, is by <br /> and between the VILLAGE OF ELK GROVE, ("Elk Grove"), VILLAGE OF HANOVER PARK, <br /> ("Hanover Park"), VILLAGE OF HOFFMAN ESTATES, ("Hoffman Estates"), the CITY OF <br /> ROLLING MEADOWS,("Rolling Meadows"), and the VILLAGE OF SCHAUMBURG, <br /> ("Schaumburg"), which all are Illinois municipal corporations forming the Region("Region"). <br /> WITNESSTH: <br /> WHEREAS,the parties hereto are units of Local Government and the Constitution of the State of <br /> Illinois,1970, Article VII, Section 10, authorizes units of local government to contract or otherwise <br /> associate among themselves in any manner not prohibited by law or ordinance; and <br /> WHEREAS, Chapter 5, Illinois Compiled Statutes, Act 220, Section 1, et sect., as amended, entitled <br /> the "Intergovernmental Cooperation Act," provides that any power or powers, privileges or authority <br /> exercised or which may be exercised by a unit of local government may be exercised jointly with <br /> another unit of local government; and <br /> WHEREAS,each of the parties is a home rule unit of local government as provided by Article VII, <br /> Section 6 of the Illinois Constitution of 1970, and has the authority to exercise any power and perform <br /> any function pertaining to its government and affairs except as limited by Article VII, Section 6 of the <br /> Illinois Constitution of 1970; and <br /> WHEREAS, municipal economic development best practices are evolving to place a greater focus on <br /> business retention and innovation; and <br /> WHEREAS,the Edward Lowe Foundation studies private sector business growth and development, <br /> and as a result of its scientific analysis, issued guidelines for State and Local Government on the need <br /> to promote business development utilizing a business accelerator model; and <br /> WHEREAS, the municipalities of Elk Grove Village, Hanover Park, Hoffman Estates, Rolling <br /> Meadows, and Schaumburg value business development as a method of increasing the local tax base <br /> and growing the regional economy; and <br /> WHEREAS,the State of Illinois is lagging the nation in job growth as well as leading the nation in <br /> out-migration, and as a result, this Region is desirous of protecting and enhancing its reputation as a <br /> destination for business; and <br />