Settlement reached with the Carle Foundation

Posted:

Urbana - The Urbana School and Park Districts have agreed to pay back nearly $7,000,000 to the Carle Foundation.

 

The lawsuit came after Carle's tax exempt status was revoked on several hospital owned properties for a few years. Once the tax exemption was reinstate, the Carle Foundation sued to recoup the $20,000,000 they paid out.

 

The settlement agreement requires Carle to seek dismissal of its claims against the Urbana School District and Urbana Park District in the pending lawsuit, while allowing the School District and Park District to keep nearly half of their shares of Carle's property tax payments. 

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