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ROSEMONT, IL- The Village of Rosemont today announced homeowners may again apply for property grants up to nearly $3,000 in 2011. This is the 15th consecutive year Rosemont has offered the grants and the amount per household has grown each year.
“In Rosemont, we believe our homeowners are investors in this community,” said Mayor Brad Stephens. “These property grants are comparable to dividends paid to stockholders of companies. If there is surplus revenue, we pass it along to those who help make this town such a success and wonderful place to live.”
The grants are based on the assessed valuation of a home. The maximum grant this year is $2,992, up from $2,909 last year. The grants are intended to help with repairs and maintenance, but homeowners can spend the money as they see fit.
Residents must apply for the grants and pay income tax on the money. Applications are available at the Rosemont Village Hall and Park District offices, among other locations. The deadline to apply is January 31, 2011. Checks are paid to homeowners within 30 days of completing their applications. Last year, homeowners received approximately $1 million through the program, and over the past 15 years, they have received about $10 million.
“Despite the challenging economic climate, Rosemont is ushering in a new era of development,” said Mayor Stephens. “We are moving forward with building the 200,000-square-foot ‘The Park at Rosemont’ entertainment district and a $6 million professional softball stadium that the Chicago Bandits will call home next year. Developers are also looking to build a $235 million, half-million square foot indoor outlet mall with as many as 120 stores.”
Stephens noted corporations continue to take note of Rosemont’s pro-business attitude and are moving employees and offices here. Cisco Systems and LifeSource are just a few that made such decisions recently, bringing nearly a thousand new jobs to Rosemont. And, the Village just had its strong bond ratings reaffirmed from both Moody’s Investor Service (Aa3) and Standard and Poor’s (A).
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