The money promised in a settlement between the owner of the Phillips 66 Wood River Refinery and three taxing bodies has been distributed. Madison County Treasurer Kurt Prenzler has distributed $10.6-million to the Roxana Community Unit School District, Roxana Community Park District and the Village of Roxana.
The money was held in escrow and Prenzler tells The Big Z his office is in the process of returning the money this week.
Click here for Prenzler’s comments
That means an $8.5-million check for the school district, $1.8-million to the village, and almost $300,000 to the Park District. According to the terms of the agreement, none of those bodies had to repay taxes collected from the refinery in 2011 and 2012, and the refinery will have a lower assessed value for 2013. This settlement comes after the refinery objected to how much it paid in local property taxes from 2010 to 2011.