Bills and Business in Peotone

By Andrea Arens

A new business for Peotone unanimously was approved by the Peotone Village Board at its September 9 meeting. Emil’s Tires, from Grant Park, plans to operate an additional location at the Peotone Travel Center. Dominique Dettmering attended the last board meeting and expressed a desire to do business at the Travel Center and was willing to meet any of the village’s requirements. The new business license would allow the village to capture the additional tax revenue from any sales occurring at that location.

In other board news, approval of Administrator Nick Palmer as the Illinois Municipal Retirement Fund registered agent unanimously was approved. Along with that, approval authorizing access for Palmer to the Peotone PFM asset management account also unanimously was approved.

The PFM account is where the Aqua money is invested. Mayor Peter March confirmed the village still has the majority of the proceeds from the Aqua sale. The most recent treasurer’s report from the end of FY24 showed the village has more than $13 million in the accounts. The drawdown from $16 million to $13 million last year was the result of the use of the $3 million bond issue used to build the I-57, Wilmington-Peotone Road improvements. The vast majority of the village’s unused funds are invested in CDs and Treasury notes at an average of 4 percent interest.

A resolution authorizing the reciprocal exchange between the village and the Illinois Department of Revenue also unanimously was approved. The Department of Revenue collects information and has a strict confidentiality agreement. The agreement would give the village business specific information and Administrator Palmer said it’s needed for the sales tax agreements in place with the village. The information provided would allow the village to satisfy the previous sales tax agreements with the automobile dealers in town.