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Bloomington council OK's store incentive

Tue, 12 Jun 2012 07:11:37 CDT
By: Jim Browne

The Bloomington city council last night approved $3.25 Million dollars for street work, and a tax rebate to lure a Champaign-based furniture store to Colonial plaza, a strip mall that's seen an exodus of tenants over the past six years. The deal will kick back 50% of the home rule city sales tax to the store for five years, or up to $150,000, which ever comes first. City officials claim the store will generate $850,000 for the city in it's first decade of operation at the site of the former Big Lots store on East Empire Street.

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