Village of Bloomingdale Minutes Special Village Board Meeting 2026-04-27
Board Reviews Stratford Crossings Tax Sharing Amendment
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Description
The Village of Bloomingdale discussed a proposed amendment to the Stratford Crossings sales tax sharing agreement with GMX Real Estate Group LLC. The proposal would extend the agreement to 2051, increase the maximum reimbursement to $13.6 million, and freeze the CPI-U adjustment at 2.5%.
Contract Details
Contract Amount
Increase from $8.5M to $13.6M maximum reimbursement
Vendor
GMX REAL ESTATE GROUP LLC
Agency
Town of Bloomingdale, IL
Contract Type
FINANCIAL_SERVICES
Document Date
April 27, 2026
Contract Term
Proposed extension of sales tax sharing agreement from 2036 to 2051 (15 years)
Renewal Date
2051-12-31
Renewal Info
Proposal to extend existing sales tax sharing agreement by 15 years from 2036 to 2051, increase maximum reimbursement to $13.6M, and freeze CPI-U at 2.5% for remainder of term; action pending.
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