Wednesday, January 2, 2019
Sears to close Cherry Vale Mall anchor store in March
By Ken DeCoster
Staff writer
Posted Dec 28, 2018 at 1:43 PMUpdated Dec 28, 2018 at 8:07 PM
Bankrupt retailer announces 80 Sears and Kmart store closings nationwide
CHERRY VALLEY — Sears Holdings will shutter 80 Sears and Kmart stores in March, including the two-story Sears anchor store at CherryVale Mall, the bankrupt retailer announced Friday.
The Hoffman Estates-based company informed employees at the stores Thursday. Liquidation sales at these stores are expected to begin in two weeks. The accompanying Sears Auto Center at the affected Sears stores also will be closing.
The Sears store at CherryVale dates back to the fall of 1973, when the mall first opened.
“In anticipation of this closure we have proactively engaged in discussions with a number of retailers and other users.” CherryVale Mall operator CBL Properties said in a statement. “We are working on plans to redevelop the Sears building, but at this time it’s too early to provide a concrete timeline or tenant names.
“I think what we’re seeing in the retail world is not going to end anytime soon,” Rockford Area Economic Development Council President Nathan Bryant said. “Brick and mortar retailing has changed drastically with the way online commerce works.”
According to Bryant, malls across the country are looking into different uses for what traditionally had been retail space, including warehouse and distribution operations, call centers and entertainment venues.
“There’s a lot of interesting use conversions that could be looked at for those types of spaces,” he said.
The Associated Press contributed to this report.
Ken DeCoster: 815-987-1391; kdecoster@rrstar.com; @DeCosterKen
Above is from: https://www.rrstar.com/news/20181228/sears-to-close-cherryvale-mall-anchor-store-in-march
Belvidere approves levy in emergency session on Friday, 12-21-2018
Belvidere aldermen reject property tax increase, OK $5.7M levy
Belvidere City Council approved a $5.7 million levy, the same amount as last year, on Friday, Dec. 21, 2018. [SUSAN VELA/RRSTAR.COM STAFF]
By Susan Vela
Staff writer
Posted Dec 21, 2018 at 12:51 PMUpdated Dec 21, 2018 at 5:12 PM
BELVIDERE — The City Council held a special meeting Friday to reconsider a $5.9 million property tax levy and decided the City of Murals could get by next year with $5.7 million instead.
The meeting was needed after aldermen rejected a proposal Monday for a $5.9 million levy, which included about $160,000 more for the city and about $23,000 more for the Ida Public Library. The council needed to adopt a levy Friday to meet a mandatory deadline.
The council voted 6-3 to amend the levy proposal to $5.7 million, the same amount as last year. Daniel Snow, Ronald Brooks and Wendy Frank favored the higher amount. Alderman George Crawford did not attend the meeting.
“I’ve talked to people,” Alderman Clayton Stevens said. “They’re mad as hell. They’re mad because we’re going to raise the gas tax, the sales tax. They’re just tired of being taxed.”
Aldermen approved in August a 0.5-percentage point sales tax increase that should generate about $1.2 million annually. New data indicates the gas tax approved in July should bring in about $500,000.
“I’m happy that the council was able to reach a consensus and at least approve a levy,” said Becky Tobin, the city’s budget and finance officer. “Even if it doesn’t include the increase that we wanted, it’s better than nothing. Like the mayor said, we’ll make due. It’s not catastrophic. What would have been catastrophic is not passing any kind of levy.”
Mayor Mike Chamberlain also was thankful council approved a levy.
“At this point, I am just relieved we were able to salvage the majority of the levy,” Chamberlain said. “Do I agree with them? No. The amendment, I think, is self serving. But it is what it is.”
Ida Public Library Treasurer Joe Fortmann said it’s too soon to say how the library will make do without the levy increase.
“If a lot of money goes away from the library, this community will not have a library,” Fortmann said. “I do not know how to say that any more strenuously than I just have.”
Susan Vela: 815-987-1392; svela@rrstar.com; @susanvela
Belvidere aldermen to revote on rejected $5.9 million tax levy
By Brittany Karlin |
Posted: Tue 5:25 PM, Dec 18, 2018 |
Updated: Tue 5:56 PM, Dec 18, 2018
BELVIDERE, Ill. (WIFR) - The aldermen and the Belvidere city mayor prepare for a showdown Friday to reevaluate the property tax levy vote.
"Basically a third or more of our annual budget going bye-bye creates a huge issue and a huge hole," said Belvidere Mayor Mike Chamberlain.
Belvidere aldermen said no to a proposed $5.9 million property tax levy. Mayor Chamberlain says it’s a major chunk and a key to balancing the city's $17 million budget.
"We will not be able to fund fire, police and public works at the normal levels. It would have created havoc in the city and the end of it would have been we have to eat up our reserve fund which would put us in a very uncomfortable position," said Mayor Chamberlain.
The proposal needed a majority yes vote to pass and four aldermen voted no, including Aldermen Clayton Stevens. He says taxpayers are already getting hit hard.
"Well, we already increased the gas tax by two cents a gallon. We have increased the sales tax by half a cent and those two rights there are going to bring in an extra $2 million projected next year,” said Stevens.
"It was alarming that the council members present last night were unaware of what they were doing and voting down $5.9 million that is desperately needed to balance our book," said Mayor Chamberlain
Stevens says he voted against the increase because he thought the other aldermen would vote yes. He also didn't discuss other possibilities with the mayor.
"I am going to vote against the 3.5 percent. I didn't discuss it with anybody. I was the first one to vote on it and I was quite surprised it went four and four,” said Stevens.
The special meeting to reconsider the levy is scheduled for 8:30 Friday morning. Mayor Chamberlain says aldermen can submit any changes they want and re-vote.
Belvidere Park District has “problem” with county clerk
See the excerpt from the Belvidere Park District board meeting shown below—
School District 100
was the only bidder
MINUTES Belvidere Park District Board (http://belviderepark.org/wp-content/uploads/112718minutes.pdf)
President Marquardt asked that a motion be made to change the order of business on the
agenda so the Annual Park Bond Ordinance 18-11-01 will be the next item of business, followed
by the Master Plan Goals and Objectives discussion.
Jean Twyning made a motion to have New Business as the next order of business, seconded by
Eric Dahl. A voice vote was taken with all voting yes. Motion carried.
Annual Park Bond Ordinance 18-11-01
Belvidere Community School District 100 was the only bid received for the annual bond sale
with an interest rate of 2.65%.
Jean Twyning made a motion to approve Ordinance 18-11-01 to sell bond series 2018-A to
Belvidere School District 100 for $1,090,000.00, seconded by Sam An. A roll call vote was taken
with all voting yes. Motion carried.
Sam An left the meeting at 7:00 p.m.
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