Illinois Business Journal Illinois Business Journal
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Caseyville gets green light on upscale development
By KERRY L. SMITH
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   With a letter of credit, nearly $31 million in tax increment financing and a nationally recognized home builder at the helm, a California developer has signaled a green light on the largest upscale residential and retail community yet in Southwestern Illinois.
   Bakersfield, Calif.-based Sport Choice LLC - known for its recreational developments across the U.S. - is preparing to do what several other developers could not achieve: a $400 million, 480-acre, 625-home development in the village of Caseyville, population 4,200.
   Known as Forest Lakes, the giant-scale community will [continue]
Developer Michael Egan, president of California-based Sport Choice LLC, examines the plans for a $400 million upscale residential development in the small community of Caseyville. Site work begins this month.

Illinois banks, credit unions sue state to recover 'egregious' fees
By KERRY L. SMITH

   SPRINGFIELD - Following the Illinois Chamber of Commerce's lead, three financial associations have filed suit against the state of Illinois, challenging the constitutionality of fee increases imposed by Gov. Rod Blagojevich - but Illinois truckers' associations say that for now, they will trust legislators to address the dilemma during the new session.
   Since a Cook County Circuit Court judge ruled in favor of the state chamber Nov. 30 that the administration's workers' compensation-related fees were unconstitutional, several other parties - all of them from the financial sector - are also using the court system to challenge new and increased fees levied against them in the past two legislative sessions.
   The Illinois Credit Union League, the Illinois League of Financial Institutions and the Community Bankers Association of Illinois jointly filed a lawsuit Dec. 14, waging a similar argument to the state chamber - that the Blagojevich administration introduced and assessed fees to specifically fund the regulation of state-chartered credit unions, thrifts and banks. The three parties contend that the fees are excessive, and that the dollars are instead being funneled into the state's general fund, paying for general operations expenses that have nothing to do with regulating financial institutions.
   Daniel Plauda, president and chief executive officer of the Illinois Credit Union League, said the lawsuit was filed in a Sangamon County court. [continue]

Study says local stores provide bigger bang for the buck than nationals
By ALAN J. ORTBALS

andersonville study of retail economics

   We would have all been better off if we had spent more of our Christmas shopping dollars with local retailers, according to a recent report by Civic Economics, a consulting firm with offices in Chicago and Austin, Tex. that specializes in economic development consulting and analysis.
   In 2004 CivEc was hired by the Andersonville Development Corp. to conduct a study of the impact on the local economy of locally owned businesses, as compared to nationally owned stores. [continue]