TIF Suit Over $1B Project Full Of Holes, RE Trust Says

Law360, New York (April 19, 2013, 6:18 PM EDT) -- CenterPoint Properties Trust asked an Illinois state judge on Friday to toss a local village's lawsuit, contending the Chicago suburb has its facts wrong in attempting to unwind a more than decade-old tax increment financing deal for a $1 billion industrial and transportation project.

The property trust and affiliate CenterPoint Intermodal LLC contend that the village of Elwood's suit, which was filed in February over the trust's alleged failure to deliver the project it promised, lacks merit and remedies.

Further, CenterPoint argues the village allegedly seriously...
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