Subsidy Tracker Individual Entry
Menards is paying the up front costs to engineer and construct a traffic signal and intersection improvements at it main entrance. The City will reimburse Menards for the entire cost of the project via sales tax collected during the Agreement Period (estimated project cost at the time the Agreement was signed was $950,000), with 30% of the project costs to be reimbursed within 180 days after the Project is completed. Starting with the fifth calendar year after the project is completed, the City will rebate 1/4% Home Rule sales tax generated annually until all projects costs have been reimbursed (end date estimated below).
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.