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MegadealsSubsidy Tracker Individual Entry
Company: VILLAGE OF LAGRANGE PARK
Parent Company:
Subsidy Source: local
Location: Illinois
City: LAGRANGE PARK
County: COOK
Address: 1015 E 31ST
Zip: 60526
Project Description: The Village shall reimburse the Operator and the Developer for approved Redevelopment Project Costs and BD Project Costs with respect to the redevelopment of the Subject Property and the construction of the Project in an amount not to exceed $135,000.00. From the date the Restaurant has commenced operation, one hundred percent (100%) of all BD Taxes generated from the operation of the Restaurant and distributed to the Village by the Illinois Department of Revenue ( IDOR ) shall be deposited into the 1015-1017 31st Street Sub-Account for the first thirty-six (36) months of operation of the Restaurant. Commencing with the thirty-seventh (37th) month of operation of the Restaurant, seventy-five percent (75%) of the BD Taxes generated by theoperation of the Restaurant and distributed to the Village by IDOR, shall be deposited into the 1015-1017 31st Street Sub-Account for the balance of the Term of this Agreement.
Year: 2018
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.