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Villa Park approves tiered sales‑tax rebate for Bone Roofing Supply; trustees request sales‑tax history
Summary
Trustees approved an economic incentive agreement for Bone Properties LLC (Bone Roofing Supply) to support expansion at 880 N. Addison, while asking staff for historical sales‑tax data and performance details before finalizing terms.
The Village of Villa Park voted unanimously on Dec. 8 to approve a tiered economic incentive agreement with Bone Properties LLC (doing business as Bone Roofing Supply) for renovations and expansion at 880 North Addison.
Manager Rivas and Director Michelle House described the proposed agreement as a multi‑year, tiered rebate of municipal retailers’ occupation tax. House said the structure returns 50% of the sales tax to the developer for the initial five years, steps to a 65%/35% split in the middle years and then shifts so the village receives 75% and the developer 25% in the final years of the term, with performance milestones and dates of work in the contract packet. Staff said the original 2012 agreement expired and the company has since outperformed original projections.
Trustee Sabri and others asked for data showing how much sales tax the village has received from the business historically and for more time to review the packet. Director House and Manager Rivas said state reports limit accessible retail‑level sales tax history to about three years but that the village could request additional data from the developer; staff noted the village received approximately $500,000 from the business in the prior year and that the developer projected 20% growth over five years (an estimate trustees asked staff to verify).
After questions, the board approved the ordinance by roll call. Trustees said they expected staff to provide the requested dollar history and further documentation to the board post‑vote.
Next steps: staff will provide sales‑tax history (to the extent state reporting allows) and any supplemental financial information requested by trustees.
