A multimillion-dollar incentive package involving property tax abatements by two school districts has been approved for a company that plans to buy a prominent Tinley Park hotel and will assume management of the village’s convention center. The $4 million in abatements agreed to by Elementary School District 159 and Rich Township High School District 227 would be coupled with revenue from the village’s hotel tax and used to soften the property tax bill for the Holiday Inn that the Harp Group is working to purchase.
The annual property tax bill for the hotel is $1.6 million, or more than the total property taxes paid by Tinley Park’s eight other hotels combined, according to village data…Please click here to read Mike Nolan’s story in the Tribune/Daily Southtown.
留言