Minooka District 111 board approves property tax abatements for 2 businesses

MINOOKA – The Minooka Community High School District 111 school board Thursday evening approved granting property tax abatements to two Minooka businesses as recommended by the Grundy Economic Development Council, according to district Chief School Business Official John Troy.

One abatement was for the 52,851-square-foot, four-story TownePlace Suites by Marriott, to be constructed at 600 Bob Blair Road in Minooka. According to Troy, the developer, Minooka Hotel Associates LLC, plans to begin one year of construction this spring.

The hotel is proposed as a select service hotel with 87 guest rooms, an indoor swimming pool and a meeting room.

The second abatement was approved for the expansion of United States Cold Storage Inc. at 601 Twin Rail Drive in Minooka. The facility would provide temperature-controlled, refrigerated warehousing and distribution services

According to GEDC documents, the company plans to construct the 100,000-square-foot steel frame warehouse on 19.57 acres.

Both of the three-year property tax abatement agreements will be abated at 75 percent the first year; 50 percent the second year; and 25 percent during year three.

Also during the meeting, Troy told the board he attended the Illinois Association of School Business Officials Delegate Advisory Committee recently and that members discussed the potential of a two-year property tax freeze that he said has bipartisan support in the Illinois legislature.

Such a freeze, he said, would have a negative effect on the school district’s financial situation.

“We are heavily reliant on residential property taxes,” Troy said after the meeting, “and during the recession, the district lost significant tax revenue as a result of declining [equalized assessed value]. We are just now starting to recoup that lost revenue.”

Also approved at Thursday’s meeting was the 2017-18 school calendar, which places the first day of student attendance on Aug. 14. Veterans Day next year falls on a Saturday, but Principal Ronald Kiesewetter said the school would be sure to have recognition for the area’s veterans during a school day.

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