AUTO DEALER MAY GET DEAL FOR CITY LAND TAXES WOULD BE DEEMED PAYMENTS.Byline: Jim Skeen Staff Writer LANCASTER - Lancaster's redevelopment agency is considering providing 5.38 acres in the city's auto mall to assist in expanding the Sierra Toyota/Lancaster Mitsubishi dealership. Worth $1.4 million, the property at the southwest corner of Motor Lane and 12th Street West would be paid for through sales tax sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. revenue generated by the dealership on the site over a 15-year period. ``It is expected that this business expansion would result in significant additional sales tax revenues (and) ... property tax increment To add a number to another number. Incrementing a counter means adding 1 to its current value. and create approximately 40 new jobs for local residents,'' Stafford Parker, Lancaster redevelopment agency director, wrote in a report to the City Council. James Hawse, owner of the dealership, wants to build a 30,800-square- foot Mitsubishi dealership on the site. After the relocation RELOCATION, Scotch law, contracts. To let again to renew a lease, is called a relocation. 2. When a tenant holds over after the expiration of his lease, with the consent of his landlord, this will amount to a relocation. , the former Mitsubishi portion of the Toyota/Mitsubishi dealership would be converted into a Toyota truck center. The proposed project is valued at $2.5 million. ``We'll do what we can to help,'' said Mayor Frank Roberts Frank Roberts may refer to:
Before the close of escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. , a note for the purchase price of the property would be provided to the redevelopment agency. The note would be paid off through annual reductions equal to the amount of sales tax revenue generated by the dealership. Any remaining amount due would be payable at the end of the 15-year period. Lancaster's redevelopment agency acquired the property in 1987 for $916,319. The property sale will be considered at the City Council's meeting at 6 p.m. Tuesday at City Hall, 44933 Fern Ave AVE Avenue AVE Average AVE Alta Velocidad Espanola (train between Madrid and Seville) AVE Alta Velocidad Española (Spanish: High Speed Train) AVE Audio Video Entertainment AVE Advertising Value Equivalent . |
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