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Downers Grove Grade School District No. 58 Resolution Property Tax Abatement 2026

District Confirms 2025 Tax Abatement for Rexnord Facility

Up to $4,000,000 (aggregate abatement cap across all taxing districts)Downers Grove GSD 58REXNORD INDUSTRIES LLCApril 12, 2026

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Description

Downers Grove Grade School District No. 58 confirms an existing tax abatement agreement with Rexnord Industries, LLC for its manufacturing facility expansion by ordering property tax abatement for the 2025 tax year. The abatement, part of an economic development incentive, is subject to a combined cap of $4,000,000 across all taxing districts and is contingent on Rexnord’s completion and annual certification under the Agreement.

Contract Details

Contract Amount

Up to $4,000,000 (aggregate abatement cap across all taxing districts)

Vendor

REXNORD INDUSTRIES LLC

Agency

Downers Grove GSD 58, IL

Contract Type

OTHER

Document Date

April 12, 2026

Contract Term

Not to exceed 10 years under 35 ILCS 200/18-165; applies to 2025 tax year under this resolution

Renewal Info

The underlying abatement agreement under 35 ILCS 200/18-165 may run for up to 10 years, with annual eligibility contingent on Rexnord’s completion of required certifications as described in paragraph 2(D) of the Agreement; this resolution applies specifically to the 2025 tax year abatement.