Chemtool move likely a boon for taxes -

Jim Athans’ final plan? Sell/lease old Beloit TIF site to someone else and move into Woodward plant in Rockton.

The pressure is on him to get some business in there,” Winters said. “He’s paying himself back out of that $2 million,” which had been part of an agreement between Athans and the village for investing in a Chemtool tax increment financing district

Now the move will actually cost Athans because the building is not in a TIF district.

Winters suspects that Athans will try to sell the old Beloit Corp. property he previously bought to make up for that.

Chemtool move likely a boon for taxes - Rockford, IL - Rockford Register Star