Algonquin Asks Lawmakers to Give D300 a Voice in Sears Conversations

is asking lawmakers to involve District 300 in conversations with Sears about the possible extension of the Sears economic development area in Hoffman Estates.

The Sears economic development area, passed in 1989 as a way to retain 2,000 jobs, is set to expire at the end of 2012, which will allow District 300 to collect an additional $14 million a year annually in property tax revenue.

“All we’re doing is asking the state to include District 300 in discussions with legislators,” said Village Manager Bill Ganek. He made explicit that at this time, the resolution is not taking a position on whether or not the Sears agreement should be extended. (See attached PDF to read full text.)

According to a statement from District 300, a 15-year extension of the economic development area would divert another $217 million in school property taxes away from the schools. The language of Senate Bill 540 Amendment 3, which the state Senate plans to vote on at the end of October, does not sufficiently tie corporate tax breaks to local job retention, District 300 stated. The economic development area is assigned to the property, not to Sears itself.

"If this is truly a state-level issue, then the entire state must collectively own the solution rather than forcing it onto the backs of the local community," District 300 Superintendent Michael Bregy said in a statement. 

District 300 serves approximately 85 percent of Algonquin’s students.

The will give its final approval at its Oct. 4 meeting, the same night District 300 will vote on a resolution to oppose the extension of the Sears agreement.