CAR DEALER MAY GET 4 ACRES FREE.Byline: Jim Skeen Do you mean:
PALMDALE - Palmdale is looking at two land deals to help an auto dealer expand his business and to bring in an office building. The Palmdale City Council is considering transferring 4 acres in the city's auto mall to Rally Chevrolet owner Larry Mayle and waiving bond payment penalties and interest on an acre on Avenue Q. Mayle wants the 4 acres to provide a separate sales building for his Hyundai dealership, which is now housed in the Rally Chevrolet building. The expansion would also provide additional space for the Chevrolet dealership, a vehicle wash area, and an oil-and-lube service area. ``This generates 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. we don't have, and it gives the people a service they need,'' said Mayor Pro Tem [Latin, For the time being.] An abbreviation used for pro tempore, Latin for "temporary or provisional." A person who acts as a temporary substitute serves pro tem. Mike Dispenza. The auto dealer would not pay for the land. Instead, the city would write off the $1 million sales price through increased sales tax revenue generated by the expanded businesses, officials said. The plan calls for 18,000 square feet of auto sales and service facilities to be built. The improvements are estimated at about $2 million. The expanded businesses are expected to be completed by late 2004. The second deal calls for Palmdale to waive To intentionally or voluntarily relinquish a known right or engage in conduct warranting an inference that a right has been surrendered. For example, an individual is said to waive the right to bring a tort action when he or she renounces the remedy provided by law for such approximately $57,000 in penalties and interest owned on a 1-acre parcel in the Trade and Commerce Center. A development company called P.H. Land Development Inc. wants to build a 30,000-square-foot office building at the site, located south of Avenue Q and east of Fifth Street West. The property is located in an area regarded as prime real estate for commercial development, but which is still largely vacant because of costly improvement bonds issued before the local real estate slump Slump A temporary fall in performance, often describing consistently falling security prices for several weeks or months. of the early 1990s. In 1989 and 1990, bonds were sold to finance $63.9 million worth of improvements to create the Trade and Commerce Center, bounded by Avenue P, Division Street, Palmdale Boulevard and 10th Street West. The improvements - which included roads, utilities, storm drains storm drain n. 1. A storm sewer. 2. A catch basin. and landscaping - were aimed at speeding up development, but recession and a real estate slump meant much of the land went into foreclosure foreclosure Legal proceeding by which a borrower's rights to a mortgaged property may be extinguished if the borrower fails to live up to the obligations agreed to in the loan contract. when property owners missed bond payments. The city's waiving of the $57,000 in bond penalties and interest is dependent upon the developer delivering on the construction of the building and keeping current on property taxes levied by Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County, city officials said. CAPTION(S): map Map: Proposed office site |
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