St. Charles Looks to Lure Volkswagen Dealership from West Chicago

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The St. Charles City Council on Monday approved a $1.5 million incentives package that might just do the trick in luring a West Chicago car dealership to the city, the Daily Herald reports.

The city hopes to bring the dealership to the DuPage Expo building -- a move that could bring at least 65 jobs to the city in two years and generate at least $200,000 in annual sales tax revenue, according to the article.

The incentives package would include the city providing the dealership, Fox Valley Volkswagen LLC, with an $800,000 loan for the $8.3 million move, the newspaper reports.

Once that loan is paid off, the city would share the sales tax revenue with the dealership -- with 60 percent of the revenue going to the dealership and 40 percent going to the city until the dealership reaches $700,000 in revenue or a 15-year time limit is reached, the Daily Herald reports.

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