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MegadealsSubsidy Tracker Individual Entry
Company: WRIGHT AUTOMOTIVE, INC.
Parent Company:
Subsidy Source: local
Location: Illinois
City: HILLSBORO
County: MONTGOMERY
Address: 11159 ILLINOIS RT. 185
Zip: 62049
Project Description: The City hereby agrees to pay the Developer certain sales tax rebates ("Incentive Payments") by yearly installments over a maximum period of (10) years (the "incentive Period") as follows, subject however to the following conditions and restrictions: 1. It is understood that each Incentive Payment will be due and payable solely from the proceeds of sales tax revenue received by the City from the car dealership on the property. 2. It is ackknowledged and understood by and between the parties hereto that the City receives sales tax revenue monthly, and that the taxes generated by sales in any one month are distributed to the City approxiametly three months later. 3. The initial payment year shall commence January 1, 2017. The Incentive Payments shall be computed at the close of each calendar year by the City as provided herein. The City will make yearly payments to the Developer within (30) days after it receives notificatino from the State of the sales tax revenue generated.
Year: 2017
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.