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Staff projected an approximately $620,000 FY2026 revenue loss tied to early closures after the Lincolnwood Town Center sale. The Board directed staff to study expenditure reductions, a one-cent motor fuel tax increase estimated to raise about $135,000 annually, streaming taxes, delivery-related fees, and other revenue options.
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Lincolnwood expects lower sales and food-and-beverage tax revenue as mall businesses close, while property tax revenue from the mall is not expected to change. The Board did not adopt a new tax or fee, but requested additional financial projections and cost-cutting options before further budget decisions. The meeting also included a report on fire insurance funds used for department equipment, facility improvements, training, and protective gear.
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