Senate committee OKs STAR bonds for Holland project
The Illinois Senate Labor Committee has approved legislation authorizing a controversial plan to divert sales taxes to finance developer Bruce Holland’s construction of a $380 million, 400-acre entertainment, retail and restaurant project in Marion, Ill.
Rep. John Bradley, D-Marion, and Sen. Gary Forby, D-Benton, sponsored the bill. The legislation now heads to the full Senate for consideration. The Illinois House of Representatives approved the legislation earlier this month by a vote of 79-35.
The development, which will include a mix of destination and entertainment businesses, retail stores and restaurants, has the potential to create 6,000 jobs during construction and 5,685 full-time jobs when completed, Holland said.
Holland, with Millennium Development and Holland Construction, scaled back the project, originally intended for Glen Carbon, Ill., and moved it south after Metro East lawyers blasted it and argued it would drain their tax bases.