Subsidy Tracker Individual Entry

Company: 
SB MUNDELEIN LLC
Parent Company: 
Subsidy Source: 
local
Location: 
Illinois
City: 
Mundelein
County: 
Lake
Address: 
MUNDELEIN CROSSINGS, MUNDELEIN, 60060
Project Description: 

The Village shares sales taxes with the developer of the Mundelein Crossings Shopping Center, specifically SB Mundelein, LLC for public improvements made by the developer. The Village retains the first $AMOUNT in sales taxes annually generated by the retail stores in the shopping center, then rebates 50% of the 1% Municipal Sales Tax and 50% of the $0.75 home rule sales tax to the developer. The maximum to be rebated is $6,000,000.

Year: 
2003
Subsidy Value: 
$6,000,000
Program Name: 
Local Sales Tax Rebate
Awarding Agency: 
Department of Revenue
Type of Subsidy: 
tax credit/rebate
Notes: 

Year is year agreement began. Subsidy value is maximum rebate. Project description is verbatim text (including indeterminate amounts) from the Department of Revenue's online compilation of excerpts from local agreements.

Source Notes: 
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