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Tax
Abatement
March 15, 2007
Metropolitan Water Reclamation District of Greater Chicago Abates Almost $22 Million in Real Estate Taxes
The Board of Commissioners of the Metropolitan Water Reclamation District of Greater Chicago (District) voted today to direct the Cook County Clerk to reduce the levy of taxes for the District’s Bond and Interest Fund by $21,900,674. Commissioner Gloria Alitto Majewski, Chairman of the Committee on Finance, said, “The Board of Commissioners was pleased to learn from our Treasurer that 2006 tax revenues were higher than expected. This allows us to provide some relief to local taxpayers. The sources of funds for this abatement are excess investment earnings held in the Corporate Fund, the Construction Fund and nine Bond and Interest Funds.” The Metropolitan Water Reclamation District of Greater Chicago collects and treats wastewater from more than five million people and the industrial equivalent of another 4.5 million people in Cook County. The District also operates the Deep Tunnel Project to collect and treat sewer overflows, and provides stormwater management for all of Cook County. The District’s 2007 budget is $1 billion. The District’s web address is www.mwrd.org.
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