The Normal Town Council will decide Monday whether to create a Tax Increment Financing District to help redevelop a partially completed warehouse on the north end of town. Johnston Contractors would receive nearly $10 million in tax support to repair and finish the moldering Wildwood Industries warehouse. Johnston received the property out of bankruptcy after a massive bank fraud sent Wildwood CEO Gary Wilder and his wife to federal prison. The town budget impact to the assistance is negligible because it comes from future property tax revenues that would be generated from the redevelopment of the site.
Support Your Public Radio Station