The Minooka Village Board of Trustees is looking into forming a sales tax rebate agreement with Speedway to help pay for public infrastructure improvements near its project site. At the northwest corner of Ridge and Midpoint roads, Speedway is looking to set up shop.
A preliminary sales tax rebate agreement would allow Speedway to recoup between $70,000 and $80,000 over 20 years. Robert Schroedter, a representative for Speedway, speaks on the extraordinary costs that Speedway is realizing.
Speedway has been talks with Minooka for close to a year. Currently, the northwest corner of Ridge and Midpoint roads generates no sales tax for the village. Village Administrator Dan Duffy made mention of how public-private partnership could help resolve issues in and around Speedway’s project site.
Speedway initially requested a sales tax sharing agreement for infrastructure installation, but those talks never escalated past discussion, according to a memo to the village board. Representatives for Speedway are also requesting to waive recaptures fees of $21,017.33 and $410.21 for infrastructure improvement costs.
Speedway has invested about $10 million into the project, to date. Schroedter made mention of Speedway’s interest in Minooka.
A special meeting on this topic is scheduled to take place immediately following the village board’s regular monthly meeting. It will be held at 6:30 p.m. June 25 at Minooka Village Hall.