The Normal Town Council votes tonight on whether to give $800,000 in tax breaks to a shopping center owner so that the town can collect $4.8 million in projected new tax revenue. Council members will vote on a proposed sales tax rebate for Phillips Edison, which owns the twin shopping centers on the northeast corner of College Avenue and Veterans Parkway. The company wants to spend $4.1 million to remodel the shopping centers, in hopes of bringing in a tenant to replace Dick’s Sporting Goods and other retail spaces.
Monday, October 16, 2017
$800K in Tax Breaks to Twin Shopping Centers in Normal Requested by Owner
The Normal Town Council votes tonight on whether to give $800,000 in tax breaks to a shopping center owner so that the town can collect $4.8 million in projected new tax revenue. Council members will vote on a proposed sales tax rebate for Phillips Edison, which owns the twin shopping centers on the northeast corner of College Avenue and Veterans Parkway. The company wants to spend $4.1 million to remodel the shopping centers, in hopes of bringing in a tenant to replace Dick’s Sporting Goods and other retail spaces.
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