Orchard LB840 modification to be on fall general election ballot
September 1, 2022
Orchard residents will determine if the village's current LB840 formula will be adjusted, following approval of a resolution, Aug. 24, by village board members.
Chairman Stephanie Cleveland addressed fellow trustees about reallocating the distribution of funds from the 1.5% sales tax on taxable sales within village limits.
The current plan allocates 50% for economic development, with the remaining half going into village coffers.
If voters approve the resolution, 25% would be earmarked for economic development, with the remaining 75% going into the village's general fund.
The plan, accordi...