Community Benefits
Perry Technology Park is an Investment in Perry's Future
The Technology Park will provide direct monetary, lifestyle and safety benefits to residents, agencies, services, and community programs.
These benefits are necessary for the continuing economic success of Perry Village and Township.
The Current Services Provided in Perry are Unsustainable Without Residential Tax Increases or Levies
Perry’s immediate budgetary gaps include:
Village
- Struggle to breakeven while providing only basic services
- 911 costs increase
- Equipment Costs
Fire District
- Capital to upgrade equipment
- Budgetary cuts and potential layoffs
- Current Tax Levy (to be paid by residents) on the ballot
The Current Services Provided in Perry are Unsustainable Without Residential Tax Increases or Levies
Perry’s immediate budgetary gaps include:
Village
- Struggle to breakeven while providing only basic services
- 911 costs increase
- Equipment Costs
Perry Local Schools
According to District filings with the State:
- Used $14.5 million of reserves in 2024 and 2025
- Projected $5.2 million in losses for 2026-2029
Fire District
- Capital to upgrade equipment
- Budgetary cuts and potential layoffs
- Current Tax Levy (to be paid by residents) on the ballot
What Can Fix Perry's Financial Issues?
Perry Technology Park
The Perry Technology Park will provide both immediate and long term financial and lifestyle benefits to the community and residents.
Immediate Financial Benefits to Perry
$12 Million in Cash from the Land Sale:
The Village, Township, and JEDD combined will receive in excess of $12 million in cash when the sale of the land is completed in 2026. The purchase price easily earns interest of $480,000 at 4% annually.
$2.7 Million in Cash from the Developer at Close of Land Sale:
The developer will pay an additional $2.7 million in cash when the sale of the land is completed in 2026 to jump start immediate community benefits. This is the initial PILOT payment which will be used to fund near-term community needs and benefits.
Land Property Taxes:
Once the land sale is completed, the market value of the land for property tax purposes will increase from its current value of zero to $12 million dollars. The property taxes on land are NOT subject to abatement.
Long-Term Financial Benefits
$326,279,949
Paid in Property Taxes Over the First 31 Years
Perry Local Schools
$155,402,588 paid over the first 31 years
Fire District
$38,786,910 paid over the first 31 years
Perry Public Library
$6,526,642 paid over the first 31 years
Auburn Vocational School
$7,761,385 paid over the first 31 years
Park District
$14,275,293 paid over the first 31 years
Senior Center
Makes membership FREE to all and provides FREE field trips for 15 years
Perry Township
$10,612,088 paid over the first 31 years
Perry Village
$9,979,850 paid over the first 31 years
Lakeland Community College
$15,437,891 paid over the first 31 years
Lake County
$46,373,079 paid over the first 31 years
Lake County Finance District
$21,124,223 paid over the first 31 years
Lake Metro Parks District
$14,275,293 paid over the first 31 years
Direct Benefits to Residents During The 15 Year Abatement Period
- Free Trash Service for Village Residents (1 time per week, standard container).
- Free Membership to Senior Center and Improved Senior Services and Free Field Trips.
- Free Recreational Opportunities for Families and Youth.
- Stronger School and Educational Programs with Payments to the Perry Athletic Hall of Fame, Theater Guild, Band Boosters, and Athletic Boosters.
- Overall Safer, More Vibrant Community with New Resources.
- Better Funding of Fire District and for Emergency Response.
- New Revenues Sources to Offset Cuts to Services by County.
Helps Prevent Future Levies on Residents for Fire, Schools, The Village and Township.