The Village Board is considering relieving the owners of a former Park Forest-based business of a long-term obligation to operate in Park Place Business Park, including their obligation to pay nearly $44,000 the company reaped under a 1999 economic incentive agreement.
The village agreed to the incentives as part of its program to revive sales and property tax revenue, according to Thomas Mick, village manager.
Because Winstrom Manufacturing operated for 10 years at 70 North St. and made improvements to the property, the village agreed not to collect 50 to 100 percent of the village’s share of sales tax revenue.
Winstrom has been sold and relocated. Its former owners plan to sell the property.
“We will come to some agreement that seems to be fine and then do what we can with the new business,” Mick said.