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Call Governor
Rod Blagojevich
312-814-2121
and tell him you support the United Southland!
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Revenue
Sharing Plan
The
mandate of the Illinois Riverboat Gaming Act is to promote economic
development over a broad geographic area, with preference given to
depressed areas of the State. Country Club Hills as host community
has proposed to enter an inter-local agreement to share its portion
of the statutory taxes with school districts, and 26 other communities
in the Southland. Country Club Hills as the host community proposes
to create a revenue sharing program as outlined below. This proposed
formula will aid distressed communities and promote economic development
across a broad geographic area.
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Southland
Economic Development Agency Trust
The proposed community trust is comprised of the following
communities:
| Country
Club Hills |
Calumet
Park |
Ford
Heights |
Posen |
| Crestwood |
Chicago
Heights |
Harvey |
Midlothian |
| Alsip |
Riverdale |
Blue
Island |
Dixmoor |
| Worth |
Robbins |
Calumet
City |
Dolton |
| Phoenix |
Oak Forest |
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Southland Economic Development Agency |
| School
Dists. |
25% |
5,668,377 |
| Country
Club Hills |
15% |
3,401,026 |
|
Second Tier |
7% |
1,587,146 |
| SEDA
Trust |
53% |
12,016,959 |
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Assuming tax revenue to the host community from the
casino of $22.7 million, the annual distribution from the proposed
trust would be as outlined above. School districts servicing the SEDA
communities will receive annual funds from the revenue sharing program.
As proposed, the SEDA Trust will operate as a mechanism for sharing
revenue among the communities. Each member of the trust will have a
vote on the distribution of funds. Projects will be presented to the
trust members and funding requests vetted by a vote of all the
members. The community of Country Club Hills is NOT
eligible for distributions from the Trust but will be voting members
for the purposes of approving projects. Under the assumption that
local tax proceeds are $22.7 Million, under this proposed revenue
sharing plan SEDA members would each receive approximately $750,000
annually if members voted to allocate the funding equally among the
17 eligible communities.
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