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Abatement Policy

306.01 Abatement Policy

The College views the economic health of the District as a matter of great importance to the College. The Board will look favorably toward tax abatements when by virtue of a tax abatement a significant benefit to the District in economic terms can be realized. Abatement may be appropriate whether the need arises by virtue of expansion of an existing business, or for attraction of new business. The Board will be concerned with a net benefit in comparison with any short term detriment which the College may suffer as a result of the abatement as compared to non-abatement, and will be concerned also with other benefits which the College District may enjoy as a result of the expansion of new business.

Tax abatement requests must be submitted in writing to the Board of Trustees of Sauk Valley Community College, District 506. All such requests will be considered on an individual basis. Abatement may be granted in the discretion of the Board. Tax abatements will not be granted for a period of time in excess of ten years.

Applications for tax abatement shall be verified (notarized statement certifying that statements made in the application are true) and shall include the following information:

  1. Name, address, and telephone number of the applicant
  2. Name, title, address, and telephone number of representative making application
    (if different from applicant).
  3. Name and address of owner of site (if different from applicant).
  4. Description of applicant’s business generally and at the location where abatement is requested.
  5. Description (legal description and/or street address) of site.
  6. Real estate tax code(s) for site.
  7. Current equalized assessed valuation for site, and current taxes paid to Sauk.
  8. Description of current business operations conducted on site (if any), including number of employees working full-time and part-time.
  9. Description of projected future business operations to be conducted on site as a result of the project, including number of employees working full-time and parttime, and total estimated change in payroll from current operations.
  10. Detailed description of any business operations in the College district operated by or reasonably related to the petitioner which will be eliminated or reduced as a result of the proposed improvement. If there will be no such elimination or reduction, so state.
  11. Total estimated cost of the project.
  12. Terms of abatement requested.
  13. Estimated dollar amount of abatement being requested from Sauk.
  14. Statement of why abatement is being requested.
  15. At the College's discretion, other additional information as may be required by and provided to the county, municipality and/or redevelopment agency where the property proposed for abatement is located.
  16. Appropriate substantiation that the relevant requirements of the county, municipality and/or redevelopment agency where the property proposed for abatement is located have been or are being met.
  17. Other information as may be requested by the College.

Revised:

  • 08-27-1984
  • 03-23-1987
  • 03-24-2003
  • 06-27-2005