Subsidy Tracker Individual Entry

Company: 
JEWEL FOOD STORES, INC. (#3049)
Parent Company: 
Cerberus Capital Management
Subsidy Source: 
local
Location: 
Illinois
City: 
Palos Heights
County: 
Cook
Address: 
7127 W. 127TH STREET, PALOS HEIGHTS, 60463
Project Description: 

An amount limited to: (i) 100% of a special retail sales tax imposed by the City pursuant to the Business District Law, imposed in 0.25 percent increments not to exceed 1.0 percent, and beginning at a rate of 0.75 percent. ( Business District Sales Tax or BST ) On or after January 1, 2014, the City may increase the 0.75% BST by 0.25% to derive additional funds for reimbursement, and (ii) 35 percent of annual incremental sales tax ( IST ) derived and collected from the City's local distributive share of the Municipal Retailers Occupation Tax associated with sales in excess of $AMOUNT annually ( Base Sales ). The City shall receive 100% of the tax derived from Base Sales and use 35 percent of the IST to pay interest on and principal ofthe Notes. The calculation is to be made on a calendar year basis.

Year: 
2011
Major Industry of Parent: 
private equity (including portfolio companies)
Specific Industry of Parent: 
private equity (including portfolio companies)
Subsidy Value: 
undisclosed
Program Name: 
Local Sales Tax Rebate
Awarding Agency: 
Department of Revenue
Type of Subsidy: 
tax credit/rebate
Notes: 

Year is year agreement began. Subsidy value is not available. Project description is verbatim text (including indeterminate amounts) from the Department of Revenue's online compilation of excerpts from local agreements.

Source Notes: 
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