Elk Grove City Council Economic Development Incentive For New Car Dealer Pulled From Tonight's Agenda
Investors seek $500,000 from city An economic incentive aimed to bring a Hyundai dealership to the vacant Saturn store at Elk Grove ...
https://www.elkgrovenews.net/2009/08/elk-grove-city-council-economic.html
Investors seek $500,000 from city
An economic incentive aimed to bring a Hyundai dealership to the vacant Saturn store at Elk Grove Auto Mall was pulled from tonight's Elk Grove city council meeting.
The incentive being put before the council seeks up to $500,000.
According to a city staff report authored by senior management analyst Heather Ross, a group hoping to bring the Hyundai store is asking for $100,000 per year for five years. The money would be used to market the Hyundai store and The Elk Grove Auto Mall.
The report says the incentive money is being sought by Michael Hastings with Direct Point Advisors, who is representing a potential owner for the Hyundai dealership.
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Points out the need for local government funding reform. Cities should not have a tax revenue incentive to bribe businesses to locate in their city.
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