The additional funding Community Unit District 300 will collect when a new tax deal between the state and Sears Holdings Inc. takes effect may not be the light at the end of the financial tunnel the district was hoping for. But district leaders know the future is brighter.
Beginning in 2014, District 300 will receive about $6.2 million per year in property tax revenues from the Sears Economic Development Area. The new deal, which the Illinois Senate approved earlier this month and Gov. Pat Quinn signed into law Friday, more than doubles the district’s current share of property taxes from the land within the districts borders on which the Sears campus sits.
Full story: http://www.dailyherald.com/article/20111218/news/712189904/
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