Three new restaurants proposed in Watseka may gain the benefits of a tax abatement; a sliding scale abatement that the business owners are seeking.
The Iroquois County Board will consider the issue next week (Tues) after the board’s tax committee gave its OK this week. The City of Watseka and the Unit Nine School District have also been asked to support the abatement of taxes for the three businesses, which the owners say will bring jobs and sales tax revenues.
Monicals Pizza and Steak ‘N Shake and Taco Bell plans construction along Route 24 East soon.
The sliding scale abatement would eliminate any tax in the first year of the business, then 10 percent real estate tax each year for 10 years. The full amount would be paid in year ten.
94.1 FM, WGFA