SYCAMORE – The Sycamore City Council passed the corporate tax levy Monday and Sycamore homeowners will be paying about the same as last year.
The $2.9 million levy is up about $85,000 from 2016, for the owner of a $200,000 home, the city portion of their tax bill would be $494.15, or 3 cents less than 2016.
The Sycamore Public Library District portion of that same homeowner’s tax bill will be about $4.56 more than in 2016. The council had discussed the tax levy at two previous meetings.
“On the city side, the average homeowner will see really no change in the property taxes paid to their city,” City Manager Brian Gregory told the council. The tax rate was decreased the same percentage as equalized assessed valuation increased, about 5 percent.
“In the end the number of dollars generated for existing property owners was roughly neutral,” Gregory said.
The City Council voted 7-0 to approve the corporate tax levy, which is the combined city and library district tax levy. The library board set the library district tax rate, and the City Council was obligated to pass it so long as it didn’t exceed six-tenths of a percent of the community’s EAV.
The council followed a recommendation of the Architectural Review Committee to award a facade grant to the builders of the Forge of Sycamore at 327 W. State St. in downtown Sycamore.
Owner James Heinrich had already removed the existing facade and was going to include dark gray stone to the outside called “iron ore.”
Heinrich estimated the project would cost about $11,500 to complete, making him eligible for a $5,000 facade grant from the city.
One of the owners, Lisa Heinrich, was on hand at the meeting. She said the current timeline is to open the brewing operation at the DeKalb location in January and the downtown brew pub in February.
The council also voted on a resolution allowing the mayor to sign a development deal with K. Hovnanian and T&C Homes at Illinois, LLC to purchase 24 lots in the North Grove Crossings subdivision. The deal allows the city to secure obligation for the remaining public improvements in the subdivision, including asphalt, water main extension, a bike path through a future park site and intersection improvements.
“It’s great that this is moving forward,” Mayor Curt Lang said. “Thank you for investing in our city.”