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MegadealsSubsidy Tracker Individual Entry
Company: NAPLETON RIVER OAKS LINCOLN
Parent Company:
Subsidy Source: local
Location: Illinois
City: Calumet City
County: Cook
Address: 1777 RIVER OAKS DRIVE, CALUMET CITY, 60409
Project Description: The City shall retain the initial $AMOUNT of sales tax resulting from the operation of the Lincoln dealership received in each agreement year. The balance of the sales tax from the operation of the Lincoln dealership shall be divided equally between the City and the developer. The City's obligation to share the sales tax will expire on March 31, 2023 or when the developer has received $1,800,000.00 of sales tax pursuant to this agreement whichever occurs earlier. In the event that on or before March 31, 2023 the developer has received at least seventy five percent (75%) of the sales tax to be paid to the developer the term of this agreement shall be extended for an additional five (5) years or until such time as the developer has received the entire $1,800,000.00 whichever occurs earlier.
Year: 2013
Subsidy Value: $1,800,000
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.