Discussions continue on Minooka sales tax rebate agreement with Speedway
Speedway is looking to set up at the northwest corner of Ridge and Midpoint roads.
Representatives for Speedway are requesting a $1.9 million sales tax rebate agreement, while the village is eying a $1.5 million deal either in the form of a sales tax rebate or a hybrid deal comprised of sales tax rebate and recapture fee agreements.
The project would ensure that a public-private partnership helps pay for sewer main connection either west on Midpoint Road from Speedway’s site or north of the proposed site to Holt Road and west on Holt Road.
Trustee Dennis Martin questioned what is the upside to agreeing to a deal with Speedway.
The deal, if approved, would have Speedway help pay for public infrastructure improvements.
Trustee Terry Houchens speaks on his concern for the deal, if the village seeks improvements west on Midpoint Road.
Houchens suggests the village proceed with the option that connects north of the proposed project site to Holt Road and west on Holt Road to eliminate concerns should the area develop more in the future.
Minooka has been in talks with Speedway for close to a year.
Martin made mention of the village’s desire to develop the area north of Holt Road.
Village Administrator Dan Duffy asked for board consensus to draft agreements that outline the two options under consideration to allow infrastructure improvements.
Further discussion on the Speedway project will take place at a July committee of the whole meeting.