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Home My WebLink About97-237 • Resolution No. 97-237 RESOLUTION ACCEPTING THE APPLICATION OF JERRY BIGGERS CHEVROLET, INC. FOR PARTICIPATION IN COOK COUNTY AUTOMOBILE DEALERSHIP INCENTIVE PROGRAM BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS, that Kevin Kelly, Mayor and Dolonna Mecum, City Clerk, be and are hereby authorized and directed to accept and execute the application form from Jerry Biggers Chevrolet, Inc . for participation in the City of Elgin Cook County Automobile Dealership Incentive Program, a copy of which is attached hereto and made a part hereof by reference. s/ Kevin Kelly Kevin Kelly, Mayor Presented: October 8, 1997 Adopted: October 8, 1997 Omnibus Vote: Yeas 6 Nays 0 Attest: s/ Dolonna Mecum Dolonna Mecum, City Clerk OFZt_ Sf "%f ifjk l I I p F t\.^> CITY OF ELGIN COOK COUNTY AUTOMOBILE DEALERSHIP INCENTIVE PROGRAM APPLICATION FORM Business Name: JERRY BIGGERS CHEVROLET, INC. Business Address: 1 385 E. CHICAGO STREET City/State/Zip Code: ELGIN, IL 60120 Corporate Officer: JAMES LEICHTER VICE-PRESIDENT Telephone: 847-742-9000 Federal Tax ID Number: 36-2491 429 Sales Tax ID Number: 0953-8623 If you 're interested in participating in the Cook county Automobile Dealership Incentive Program,please complete and return this application to: James R. Nowicki, City of Elgin, 150 Dexter Court, Elgin, IL 60120 (telephone 847-931-5625). Also, please provide three (3) copies of the appropriate documentation supporting the facet of the particular program in which you wish to participate. Participants in the rebate programs are required to submit Illinois Department of Revenue documentation of revenues and sales taxes paid for the last three years (all documentation will remain confidential). Descriptions of plans for capital improvements must also be submitted at the time of application to the program. Application is subject to review and must he approved by the Elgin City Council. INVESTMENT GRANT (Capital investment must he at least$50,000 and up to $200,000) Detailed Description of Capital Investment (please include number of square feet improved): FASCIA & SOFFIT REMODELING 88, 800. 00 FLOOR COATING 13, 560. 00 ROOFTOP AIR CONDITIONING UNIT 6, 679 . 00 LIFT 7, 075 . 00 PAINTING 3, 800. 00 LIFT 7, 200. 00 ELECTRICAL WORK 1 , 963 . 00 STONE CARPET SYSTEM 46, 000 . 00 EXTERIOR SIGN 48, 953. 00 GARAGE DOORS 49, 500. 00 Name of General Contractor: Address: City/State/Zip: Telephone: Project Costs: Construction/Remodeling $ 273, 530 . 00 Other Capital Improvements $ Please provide the following documentation (all documentation provided will remain confidential): ► Copies of City of Elgin building permit receipts related to the capital investment. ► Receipts for other capital improvement purchases (e.g., furniture, fixtures, etc.). ► Construction/bid documents (required for building permit) for building expansion/remodeling. ► Listing of capital items to be purchased.. ► Copy of business plan, if available. ► Copy of most recent audited financial statement. • BUSINESS RETENTION REBATE (Dealerships must remain in Elgin for at least five years-- may not be used in conjunction with another incentive) Please provide the following documentation (all documentation prov ided will remain confidential): ► Copy of five-year lease agreement (if property is leased). ► Affidavit, signed by an authorized officer, stating the dealership will continue their retail operations in Elgin for at least five years. ► State of Illinois certified sales tax receipts (1993-1995). All supportive financial documents and required information must be supplied before the application will be considered by the Elgin City Council. * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * We agree to all conditions specified in the Automobile Dealership Incentive Program. Signed: ez-- Signed: Title: Arrce t cie n. Title: ass T-. SC ,e (Chief Corporate Officer) (Chief Financial Officer) Date: ila./92 Approved: Attest: �.-- Signed. (� -- Signed: �-� Kevin Kelly, M or �TDolonna Mecum, City Clerk Date. ja//a/9 7 0Off�C ' 'ti Agenda Item No. IF' Cityi of Elgi n II. "ATEDo$v September 17 , 1997 TO: Mayor and Members of the City Council FROM: Robert O. Malm, Interim City Manager SUBJECT: Cook County Automobile Dealership Incentive Program Application - Jerry Biggers Chevrolet, Inc. PURPOSE The purpose of this memorandum is to provide information to the Mayor and members of the City Council to consider an agreement with Jerry Biggers Chevrolet, Inc . for participation in the Cook County Automobile Dealership Incentive Program. BACKGROUND On August 28 , 1996 , the City Council passed an ordinance estab- lishing an incentive program for automobile dealerships located in the Cook County portion of Elgin. Application forms and program information were mailed to all dealerships in October, 1996 . The Cook County Automobile Dealership Incentive Program consists of three facets : 1) Sales Tax Sharing Agreement: Any Elgin automobile dealer- ship whose facility is located in Cook County may take advantage of the sales tax sharing agreement by making a capital improvement to their facility of more than 200 percent of the average sales base ( 1993-1995) . During the next five years, the eligible dealership will receive 50 percent of the increased local sales tax revenue generated over the business ' s sales tax base. 2 ) Investment Grant Program: Automobile dealers who make capital investments of at least $50, 000 and up to $200, 000 may be eligible for a 15 percent investment grant from the City. Upon approval, a participating dealer has up to two years to complete capital improvements . The City will pay half of the grant amount in the first month that improvement construction begins, with the balance being paid in thirteen months or when construction is completed, which ever comes first. The required improvements must be completed within the two-year period or all grant money previously distribut- ed will be forfeited. Dealers are eligible for the Invest- ment Grant Program only once every five years . Cook County Automobile Dealership Incentive Program September 17 , 1997 Page 2 3) The Business Retention Rebate: To be eligible for the 35 percent business retention rebate, a dealership must agree in writing to continue their retail operations in Elgin for a period of at least five years . The dealership is also required to supply the City with Illinois Department of Revenue documentation of the revenues and sales taxes paid for the years 1994-1997 . All sales tax information received from the Illinois Department of Revenue is required to remain confidential . Jerry Biggers Chevrolet, Inc . has submitted an application for participation in the investment grant facet of the program. A total of nearly $270,000 in capital investment is scheduled to be undertaken. COMMUNITY GROUPS/INTERESTED PERSONS CONTACTED None.91a, _ INANCIAL IMPACT The maximum amount eligible for the grant is $30, 000 ( 15% X $200, 000) . Adequate monies are available in the Elgin Riverboat Fund, account number 275-0000-791 . 80-27 - Economic Development Incentives - to fund this program. LEGAL IMPACT None. ALTERNATIVES None. RECOMMENDATION It is recommended that the Mayor and members of the City Council authorize staff to enter into a participation agreement with Jerry Biggers Chevrolet, Inc. for the investment grant facet of the Cook County Automobile Dealership Incentive Program. Respectfully submitted, 2..-7,4,1;:a- ' .mes R. Nowicki : r=ctor of Finance • •ber 0. Malm I terim City Manager JRN/daw Attachment