Minooka ends ban on incentives for warehouses
By Kris Stadalsky For The Herald-News July 27, 2012 10:46AM
Updated: August 30, 2012 6:20AM
MINOOKA — In a mutual decision, the village of Minooka and Grundy County will rescind an intergovernmental agreement that prohibits warehouse facilities from benefiting from economic incentives.
The village passed a resolution rescinding its part of the agreement and the county is expected to do the same at its meeting in August, said Village Administrator Dan Duffy.
The original agreement, signed by both parties in 2006, prohibited warehouse facilities or freight terminals from receiving the same tax incentives as other businesses located in a 12,000-acre area called Economic Development Project Area 1.
The area reaches from Interstate 80 south to Dresden Station and west to the Channahon and Morris boundary line.
It was originally thought that it wouldn’t be beneficial to the parties to offer the incentives to those facilities, said Duffy.
“Now both parties agree it’s best to rescind that and move forward,” Duffy said.
The village is working to attract another warehousing company, which has not been named, to that area.
Any type of facility locating in the area will be eligible for economic incentives.
In another matter, the village approved an amendment to the annexation agreement with OPUS (Ridge LLC) that changes the length of time the company has to make agreed upon sewer and water improvements.
OPUS had five years from the time it signed the original annexation agreement in 2006 to make the required improvements.
Because of the economy, OPUS requested an additional five-year extension in 2011.
The most recent amendment, however, gives OPUS just six months to complete the sewer and water project from the time any new facility occupies the development, regardless of when that occurs between now and 2016.