A three-year abatement agreement with US Cold Storage in Minooka was approved by Grundy County Board members last night.
Nancy Norton with the Grundy Economic Development Council spoke about the agreement during the most recent Tax Committee meeting.
Norton said the total cost of the expansion would be around $60 million. Grundy County Board Chairman Chris Balkema said the three year abatement would include 75 percent in year one, 50 percent in year two and 25 percent in year three. He also said an additional $247,000 per year in property taxes will be collected.