Schools
District 300, Sears Negotiating Tax Deal
The Northwest Herald reports there will be no public discussion as long as negotiations are ongoing.
District 300 leaders have been negotiating with Hoffman Estates-based Sears regarding the terms of its economic development area (EDA), according to an article in the Northwest Herald.
The Sears EDA, passed in 1989 as a way to retain 2,000 jobs, is set to expire at the end of 2012, which will allow D300 to collect an additional $14 million a year annually in tax revenue.
Cheryl Crates, CFO for the school district, said there will be no public discussion regarding the negotiations while they are ongoing, according to the article.
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