Grayslake OKs Plan To Give $1 Million to Dealership

Village officials are hoping a plan to give $1 million to FLAG Chevrolet for renovations at the dealership on Belvidere Road will help boost business and bring in more sales tax revenue for Grayslake, the Daily Herald reports. The Grayslake Village Board approved the plan this past week. FLAG Chevrolet, which just took over ownership of the dealership at 1000 E. Belvidere Road in recent months, is planning to spend about $15 million in renovations, according to the article.

Under the agreement, FLAG Chevrolet will be rewarded the $1 million if they start work in the next year and its completed in the next two years. The dealership must also maintain at least 75 full-time employees and spedn $4.2 million advertisements in the next three years, according to the article.

The site first became home to a dealership in the mid-1990s when Rockenbach Chevrolet began operations there, peaking at a sales tax revenue of $1 million annually. Rock Chevrolet bought the dealership about six years ago and the site's newest owners, FLAG Chevrolet, just moved in a couple months ago, according to the Daily Herald.

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