Rebates stimulate business in Vernon Hills

BY RICK KAMBIC | rkambic@pioneerlocal.com December 20, 2012 8:46AM

Gary Steinhafel shakes hands with Vernon Hills Village President Roger Byrne during a chamber event emphasizing small business. Steinhafels was able to expand in Vernon Hills because of a sales-tax rebate agreement. | FILE PHOTO

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Updated: December 20, 2012 8:46AM

VERNON HILLS As Dave & Busters introduced itself to the Vernon Hills Village Board on Dec. 17, its interest in replacing GlowGolf in Hawthorn Mall brought Westfield and the village closer to a potential $7.5 million tax rebate agreement.

Finding big clients, such as Dave & Busters and an AMC movie theater, would show Vernon Hills a serious commitment to the $40 million to $50 million overall renovation Westfield presented in April.

While the long-awaited agreement hangs in the balance, village officials are pleased with the first five tax rebate agreements that were authorized during the recession.

Sales tax rebate programs involve a landlord or retailers asking the village for help overcoming a need. If approved, Vernon Hills would give portions of its sales tax revenue back for a certain period of time, or up to the agreed amount.

The revenue given back, however, is only money generated in the applicants store, creating an incentive for the company to perform.

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Rebates stimulate business in Vernon Hills