Roundy’s Hits TIF Jackpot
According to The Center Square Journal, it’s full speed ahead for a development project on Lawrence Avenue that will house a Mariano’s Fresh Market to receive $4.5 million in our property taxes.
The upscale Mariano’s chain already scored $7 million in our property taxes for its new store on Halsted in Greektown, across the street from Dominick’s.
They scored a hat trick with the gift of $1.25 million for a new store being built in Elmhurst.
Can I hire their lobbyist or development lawyer? They must be really good to make a case for so much public subsidy. Especially for being so courageous to locate in the blighted neighborhoods of Greek Town, Ravenswood and Elmhurst.
Mariano’s parent company, Roundy’s, isn’t exactly hurting. Their net sales for the third quarter of 2012 was $973.6 million. Their gross profit for the third quarter of 2012 was $251.2 million.
Will somebody please explain the economic why these projects, with their clout-heavy lawyers and consultants, deserve so much of our property taxes in order to be built?