Cal City shares sales tax revenue with River Oaks West developer

2013-01-02T20:15:00Z Cal City shares sales tax revenue with River Oaks West developerGregory Tejeda Times Correspondent nwitimes.com
January 02, 2013 8:15 pm  • 

CALUMET CITY | The City Council gave its approval Thursday to a payment of a little more than $32,000 to the developer of the River Oaks West shopping center as part of an agreement between the two entities to share sales tax revenues.

Under the agreement, the city pays Kimco Realty Corp. half of the state sales tax and home rule sales tax received by stores in the shopping complex just west of Torrence Avenue at River Oaks Drive.

Payments are made every three months, and the payment approved Thursday was for $32,185.46. That is half of the sales taxes generated by the stores between July 1 and Sept. 30.

That figure was calculated by the city treasurer’s office, based on numbers provided by the Illinois Department of Revenue. Aldermen voted 6-0 to approve the payment. Alderman Antoine Collins, of the 7th Ward, was absent.

The agreement has been in place since April 2004 and is to remain for a decade. It was a deal negotiated to encourage Kimco Realty – which develops realty properties across North and South America – to do an upgrade of the River Oaks West stores back in the mid-2000s.

The City Council also voted 6-0 to approve a $2,846 payment to the Illinois Department of Transportation to pay for the installation of street lighting at the approach to the Wentworth Avenue bridge over the Little Calumet River.

Money for those lights will come from the allotment of motor fuel tax funds the state routinely provides to Calumet City.

Calumet City Plumbing Co. will receive a $5,055 payment approved by the City Council for work the company did for sewer repairs at 700 Burnham Ave.

In other business, Mayor Michelle Markiewicz Qualkinbush named City Clerk Nyota Figgs to serve on the city’s Fire Pension Board. That seat on the board had been vacant since the death last year of previous City Clerk Gloria Dooley.

The City Council also approved a payment of $6,360 to The Times of Northwest Indiana for a tree-lighting mailer.

 

Copyright 2014 nwitimes.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Follow The Times

Latest Local Offers

Featured Businesses

Poll

Loading…

Do you think the Lake County Solid Waste Management District should pay its new director less than its former director?

View Results

Illinois Newsletters