Hoffman Estates Officials Say COVID-19 Pandemic Was Not As Costly As Expected -- Yet

Craig Dellimore
July 23, 2020 - 2:32 pm
Coronavirus Money

CHICAGO (WBBM NEWSRADIO) -- The Village of Hoffman Estates has, happily, learned that the coronavirus pandemic has not done as much economic damage as officials expected - so far.

Hoffman Estates Village Manager Jim Norris refuses to call it good news; but, his team had estimated that the suburb would lose $6.5 million in tax revenue, because of COVID-19. The actual impact is more than a million dollars less than that.

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"In a spectrum of how bad we thought it was going to be, it's not going to be as bad; but we put several caveats on that. One, we don't know if the current upswing is going to lead to another bubble, which could cause a tightening of restrictions."

Norris said the village has a lot of groceries stores that have done well during the pandemic, and he said buildings are still being bought and sold and home improvements continue, so real estate taxes and permit fees are strong.

Jim Norris is retiring after more than two decades managing Hoffman Estates. He wants to do more with his family - if the coronavirus pandemic allows it.