Argo High School board sues Summit for breaking TIF revenue sharing deal
Argo Community High School's school board has sued to recover money allegedly owed from a tax revenue sharing plan agreed to in 2012 with the village of Summit.
The Argo Community High School District No. 217 Board of Education filed suit against the village, alleging breach of contract and unjust enrichment.
According to the complaint, in 2003, Summit created a tax incremental financing (TIF) district to fund the redevelopment of the area around 63rd Street and Archer Avenue in Summit. By 2010, the suit says, the TIF had generated substantial revenue, and Summit agreed to give grants to the school district, as well as the Summit Park District and Summit Public Library District. As a stipulation, the districts were to make annual payments to the school district, the suit says, but the village hasn't made its 2012 or 2013 tax year payments.
The Argo board seeks the $137,000 it alleges it is owed, plus a requirement the village not tender TIF funds during the continuing life of the original sharing agreement. The board is represented by attorney Ares G. Dalianis, of Franczek Radelet in Chicago.