Bloomington airport wants to expand tax base
BLOOMINGTON, Ill. (AP) - The Bloomington-Normal Airport Authority wants to expand its tax base to give it the option of increasing revenue.
The operator of the Central Illinois Regional Airport is also seeking a developer to lease airport land for a hotel, conference center and restaurant.
Earl Kingman is vice president of the authority's board. He tells The Pantagraph in Bloomington (http://bit.ly/1LAoqoB ) that "the airport is financially strong" and these steps will ensure it stays that way.
Currently, only residents of Bloomington and Normal pay property taxes to support the airport. If legislation is drafted and approved, the tax base would be expanded to all of McLean County.
The rate would then drop, meaning overall revenue would stay roughly the same. But it opens the door for more money if needed in the future.
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Information from: The Pantagraph, http://www.pantagraph.com