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Romeoville’s Village Board recently granted a tax abatement to the developer of a planned industrial center in exchange for improvements to Schmidt and Naperville Roads.
The agreement allows Duke Realty, which plans to build the industrial center on the site, a 50 percent tax rebate over a five-year period not to exceed $325,000.
The taxes abated will be offset by the road improvements, which are valued at more than $800,000, said Village Manager Jim Smithberg.
“We gain a public improvement that we as a community need and don’t have to pay for with today’s dollars,” he said.
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