Sears Subsidy Deal Outlined

Pam Althoff explained the Sears subsidy deal to Republican Precinct Committeemen.

At the McHenry Township Hall McHenry County Republican Central Committee meeting, State Senator Pam Althoff was asked what the Sears subsidy bill was going to do to/for School District 300.

She outlined three elements:

  • District 300 will get twice as much money as it is getting now.
  • A “claw back” provision will be included, that is, if Sears leaves Illinois, it will have to return subsidies provided.
  • Hoffman Estates will still get 2$ of the TIF-like money for an administrative fee.

It appears that this large local school district will still bear the brunt of the burden of subsidizing Sears.

District 300 officials have argued that continuation of the Economic Development Authority will deprive it of $12 million a year.

In an email today, Althoff wrote, “District 300 will receive about 3 million more per year according to my sources.”


Comments

Sears Subsidy Deal Outlined — 2 Comments

  1. Sen. Althoff has tried to play D300 since the beginning of this fight.

    She has been quoted here and in other publications making it sound like D300 has been involved in negotiations when we have not.

    She is pandering to Sears and Hoffman and acting like she’s a big part of this.

    She is not.

    It is a shame that for as long as this District has supported Sen. Althoff that now that her new district will not have any part of D300 in it, she’s thrown us to the wolves faster than you can say traitor.

    She better hope that the new districts are upheld.

    We will not be there fo her in the future.

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