Noland on Sears

Noland on Sears

Posted by Mike Riopell on Mon, 08/29/2011 - 16:53

Sen. Mike Noland told us he caught up with Gov. Pat Quinn via phone this morning. Among the many topics was talk about Sears Holding Corp.'s headquarters in Hoffman Estates.

A tax-incentive district created for Sears expires in 2012, and Sears is rumored to be considering moving when that deal is up.

For the record, the Elgin Democrat says he's against extending that tax-incentive deal. The reason: Carpentersville District 300 wants the property tax money the company would have to pay should the deal lapse.

"That's $13 million a year the school district has been doing without," Noland said.

He said he's a "big fan" of Sears and could favor helping the company out through perhaps a different incentive in order to try to keep it in Hoffman Estates.

But the school money, Noland says, is critical.

"They have to uphold their end of the bargain," Noland says.

Noteworthy: Rep. Fred Crespo of Hoffman Estates and Noland's fellow Democrat, has worked to extend the tax increment financing district Sears is sited in.

Also, Noland said he and Quinn talked about gambling expansion some. But he assures us Quinn shed no light on his plans.

Comments ()
We are now using Facebook comments to offer a more inclusive, social and constructive discussion. Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our or terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.