Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tax Exemption topic
No spam. Unsubscribe anytime.
Council committee considers Quest Academy plan change; staff recommends payment-in-lieu if tax exemption granted
Summary
Quest Academy asked to convert retail center space and may pursue property tax exemption for qualifying spaces; staff recommended conditioning any exemption on an annual payment-in-lieu to the village to offset police, fire and public-service costs.
The Economic Development Committee reviewed a request by Quest Academy to amend a minor planned development so the academy can convert portions of a retail center and, in qualifying spaces, apply for property tax exemption.
Staff (Banerjee) told the committee the proposal would not change zoning but could result in property tax-exempt uses in the center. Because the village remains the primary local service provider for police, fire and public services regardless of exemption status, staff recommended a payment in lieu of taxes (PILOT) be required as a condition so the village’s costs are offset. Under the proposal the village would invoice the payment annually, by November each year. The committee moved and seconded to approve the amendment to plan development and to place the item on the consent agenda.
Committee members asked whether the PILOT would have a sunset (staff: no sunset was proposed) and whether additional review would be needed if the academy sought further expansion; staff said future expansions would require separate approvals.
