St.CHARLES – Audi is a $2.6 million city incentive to build a 3.38-acre concession and service center along North Randall Road.
Councillors will discuss the proposed economic incentive agreement to share sales tax at the city council government’s operations committee assembly on Tuesday.Semersky Enterprises, Inc., which owns and operates Audi Exchange and Porsche Exchange in Highland Park and Chevrolet Exchange.in Lake Bluff, he proposes to expand an Audi dealership of more than 25,600 square feet and a service facility on 3,38 acres of land on 235 N.Randall Road.
As a component of the incentive agreement, the City and SEI percentage of sales tax revenue generated through assets at project-related canopy progression prices, adding the Woodward Drive extension and installing gentle traffic on Randall Road, insufficient soil rehabilitation.innovations to electrical infrastructure.
The cost of the Woodward Drive extension and improvements to Randall/Woodward intersections, adding traffic lighting fixtures and typhoon sewer upgrades, is estimated at $2 million.It is estimated that electrical infrastructure innovations will charge $300,000 and the allocation would also require another $251,000 to cover the wrong floors.
As proposed, the sales tax incentive agreement would be in for 15 years.The incentive will be paid through refunding the sales tax, where the broker will be reimbursed 75% of the sales tax generated through the broker and the remaining 25% will be retained through the city.