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MegadealsSubsidy Tracker Individual Entry
Company: ZEIGLER NISSAN GURNEE LLC
Parent Company:
Subsidy Source: local
Location: Illinois
City: LINDENHURST
County: LAKE
Address: 19101 W. GRAND AVE
Zip: 60046
Project Description: Village will rebate to Zeigler Nissan Gurnee LLC 100% of municipal sales tax revenues generated by Zeigler up to a maximum rebate of $287,205.00. After the maximum has been transmitted, the village agrees to rebate 50% of municipal sales tax revenues generated by Zeigler from gross receipts of $50 million and 65% of sales tax revenues generated by Zeigler from gross receipts that exceed $50 million each year. If the business closes within 5 years, Zeigler must refund 75% of the sales tax rebate. If the business closes between the 5th and 10th year, Zeigler must refund 50% of the sales tax rebate. If the business closes after the 10th year, but before the 15th year, Zeigler must refund 25% of the sales tax rebate. The term of the agreement is 15 years.
Year: 2016
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.