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MegadealsSubsidy Tracker Individual Entry
Company: TNP SRT CONSTITUTION TRAIL LLC
Parent Company:
Subsidy Source: local
Location: Illinois
City: Normal
County: McLean
Address: 1715 - 1775 BRADFORD LANE, NORMAL, 61761
Project Description: Constitution Trail LLC is to receive an annual partial rebate of the sales tax equal to 50% of their 1% Illinois Municipal Retailer s Occupation Tax (state sales tax). The maximum amount that Constitution Trail LLC may receive is limited to a total reimbursement of $2,000,000 plus interest of 6.5% per year on the unpaid principal balance. Rebates are paid 3 times a year, and each rebate reduces the principal balance. At the end of the fiscal year after the last rebate payment is calculated, the 6.5% interest on the unpaid balance will be calculated and paid. The agreement is valid either from April 17, 2006 through August 1, 2021 or until the maximum refund is made, whichever event occurs first.
Year: 2006
Subsidy Value: $2,000,000
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.