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MegadealsSubsidy Tracker Individual Entry
Company: HAGGERTY FORD INC.
Parent Company:
Subsidy Source: local
Location: Illinois
City: West Chicago
County: Dupage
Address: 330 E. ROOSEVELT ROAD, WEST CHICAGO, 60185
Project Description: The City rebates 75% of the general sales tax, up to $1 million, to reimburse the company for capital expenses incurred upgrading the old Schoenthaller Buick dealership to Ford s standards and to build a body shop. In 2012, the City and Haggerty Ford amended the Agreement to increase the cap to $1.9 million due to the increased cost of the body shop, in return for the City getting a larger share of the sales tax revenue, beginning in 2016, as follows: For the taxes collected from sales through December 31, 2015, the City would continue to rebate 75% of the Retailers Sales and Occupation Tax to Haggerty Ford. For the taxes collected from sales between January 1, 2016 through December 31, 2018, the City would rebate 60% of the Retailers Sales and Occupation Tax to Haggerty Ford. For the taxes collected from sales after January 1, 2019, the City would rebate 50% of the sales tax to Haggerty Ford until $1.9 million in total has been rebated (end date estimated below).
Year: 2009
Subsidy Value: $1,900,000
Program Name: Local Sales Tax Rebate
Awarding Agency: Department of Revenue
Type of Subsidy: tax credit/rebate
Source of Data:
(click here)
Notes: 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.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.