Business  |  Tax Incentives


Penske Automotive Group dba Toyota & LEE G. SEIDMAN DBA L.G.S. PROPERTIES / DRIVERS MART Agreement #97-001 
CRA # 035-00295-01


Agreement Information
Community: BEDFORD      ODOD Status: Active
County: Cuyahoga      Agrmt Date: 11/4/1997
Local School District:      Amend. Date:
     Expiration Date: 12/31/2016
School Comp Agreement: No      Revenue Sharing: No
  SIC Code: 5515

Real Property

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

Real Property Tax Incentives

Percentage  64 %  
Term 15 years  
 
Personal Property
M & E F & F Inventory Total
Investments $500,000.00 $350,000.00 $5,000,000.00 $5,850,000.00

Employment

Job and Payroll Commitments
Number Payroll
Retained 0 $0.00
Fulltime Permanent 40 $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: 98      Cumulative Taxes
Jobs Created: 98 Real Property Taxes Paid: $1,228,932.13
Jobs Retained: 0 Real Property Taxes Forgone: $682,105.67
Total FTE in Ohio: Personal Property Taxes Paid: $629,936.73
New Payroll: $4,934,793.33 Personal Prop. Taxes Forgone: $0.00
Project Investment
Real Property: $9,936,797.00 Other Tax Incentives: $0.00
Personal Property: $0.00 TIRC Date: 8/5/2015
Previous Year Taxes TIRC Recommendation: CONTINUE
Real Property Taxes Paid: $104,307.52 Local Gov't. Action/Status: CONTINUE
Real Property Taxes Forgone: $52,711.14
Personal Property Taxes Paid: $114,560.00 Annual Report Year: 2015
Personal Prop. Taxes Forgone: $0.00
Local Corp Income Taxes Paid:

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