Subsidy Tracker Individual Entry
The Village shall pay an annual Municipal Sales Tax recovery payment to ADP for 5 Revenue Years beginning with the 2012 Revenue Year and continuing for the next 4 Revenue Years (through Revenue Year 2016) equal to 25% of the Municipal Sales Tax Revenue generated during such Revenue Year. The payments will be calculated on all Municipal Sales Tax generated by all retail sales of ADP; provided that the Municipal Sales Tax recovery payments shall not exceed (i) $120,000 per Revenue Year and (ii) $600,000 over the term of the agreement.
Year is year agreement began. Subsidy value is maximum rebate. Project description is verbatim text (including indeterminate amounts) from the Department of Revenue's online compilation of excerpts from local agreements.