The Oakbrook Terrace City Council has decided to help several businesses in town by approving a stimulus package of about $311,000, with rebates of three months of sales taxes that were paid to the city in 2019.
Oakbrook Terrace’s 40 restaurants and three convenience stores will receive a rebate of sales tax paid from April-June of 2019, an amount totaling $204,000, or an average of about $4,700.
In addition, the city’s six hotels and motels will get back 25% of the sales tax they generated during the same period. That totals about $107,000, or an average of about $17,800.
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“From our outstanding hotels to our restaurants and various stores, our business community is absolutely vital to our city and our local economy,” Acting Mayor Paul Esposito said in a release. “We recognize how this crisis has impacted businesses and want to show our support and provide any assistance that we can during this very challenging time. Fortunately, the city is in a financially strong position to help our local businesses during these difficult times.”
Esposito said Wednesday that businesses have not been notified, yet, about the rebates.
“We are going to distribute letters and applications to all business next week,” he said, adding that each business will need to complete an application, showing sales tax was paid for the months of April, May, and June 2019.
“Once city receives applications, the city will issue checks within 30 days,” he said.
Esposito said he will hand deliver all rebate checks and thank them for operating in Oakbrook Terrace.