Letter: Don't let Woodstock Aldi get TIF funds

The City of Woodstock has submitted an offer to representatives of Aldi to use TIF funding for a new store to replace its current Woodstock store. The agreement will cost Illinois $90,000 in a sales tax rebate on building materials and an additional $30,000 in investment tax credits.

Woodstock residents will lose $160,000 in property taxes. Aldi is a multinational company in the midst of a $3.4 billion U.S. expansion according to Market Watch (Aug. 28, 2017). This is not the best use of the TIF program and the city council should carefully consider this agreement.

Michael Burditt

Woodstock