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MegadealsSubsidy Tracker Individual Entry
Company: L&L PROPERTIES OF STERLING LLC
Parent Company:
Subsidy Source: local
Location: Illinois
City: PRINCETON
County: BUREAU
Address: 2106 N MAIN ST
Zip: 61356
Project Description: Provided the Owner shall materially comply with and continue to be in material compliance with the provisions of this Agreement, subject to the expiration of any cure period as provided in Section 18 hereof, the City shall receive the first ten thousand dollars ($10,000.00) of Sales Tax generated by taxable sales activities of the Property for each of the first six (6) Sales Tax Years during the Sales Tax Participation Period to the Owner, or until the Sales Tax received by the owner equals one hundred thousand ($100,000.00) for a period of time not to exceed six (6) years. The Owner should also receive fifty percent (50%) on any sales tax amount in excess of $20,000 combined for a year.
Year: 2016
Subsidy Value: undisclosed
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. Project description is verbatim text (including indeterminate amounts) from the Department of Revenue's online compilation of excerpts from local agreements. Subsidy amount is not readily available.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.