Business  |  Tax Incentives


Penske Automotive Group dba Audi of Cleveland, formerly FRED BAKER IMPORTED CARS Agreement #98-001 
CRA # 035-00295-01


Agreement Information
Community: BEDFORD      ODOD Status: Active
County: CUYAHOGA      Agrmt Date: 11/16/1998
Local School District: BEDFORD SCHOOL DISTRICT      Amend. Date:
     Expiration Date: 12/31/2012
School Comp Agreement: No      Revenue Sharing: No
  SIC Code: 5515

Real Property

Acquisition Improvements New Construction Total
Investments $2,100,000.00 $0.00 $1,000,000.00 $3,100,000.00
Exemptions $0.00 $1,000,000.00 $1,000,000.00
 

Real Property Tax Incentives

Percentage  64 %  
Term 15 years  
 
Personal Property
M & E F & F Inventory Total
Investments $130,000.00 $75,000.00 $750,000.00 $955,000.00

Employment

Job and Payroll Commitments
Number Payroll
Retained 0 $0.00
Fulltime Permanent 15 $1,250,000.00
Fulltime Temporary 0 $0.00
Parttime Permanent 0 $0.00
Parttime Temporary 0 $0.00
Job Creation Period: 36 months

Performance/Compliance

 
Agreement Status is: Active
Total full time equivalents at Site: 40      Cumulative Taxes
Jobs Created: 6 Real Property Taxes Paid: $1,332,993.34
Jobs Retained: 34 Real Property Taxes Forgone: $286,417.43
Total FTE in Ohio: Personal Property Taxes Paid: $855,987.00
New Payroll: $408,436.00 Personal Prop. Taxes Forgone: $0.00
Project Investment
Real Property: $3,560,100.00 Other Tax Incentives: $0.00
Personal Property: $0.00 TIRC Date: 8/10/2017
Previous Year Taxes TIRC Recommendation: EXPIRE
Real Property Taxes Paid: $0.00 Local Gov't. Action/Status: EXPIRE
Real Property Taxes Forgone: $0.00
Personal Property Taxes Paid: $142,251.00 Annual Report Year: 2017
Personal Prop. Taxes Forgone: $0.00
Local Corp Income Taxes Paid:

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