G.7 Taco bell Sales Tax AgreementEconomic Development Program
Taco Bell
Economic Development Program
Taco Bell
Tonight’s Presentation
-Sales Tax Sharing Agreement with SERJ Taco
-Past Agreement With SERJ Taco
Sales Tax Sharing Agreement
With Taco BellFranchiseeSERJ Taco
•Project -
Approved
12/12/2020
22172 Barton
RD
2080 Sq. Ft.
Drive -Thru
Restaurant
Potential
Revenue For
City
Sales Sales Taxes Property
Taxes
Total
Revenue
$1.2 M $12,000 $5,500 $17,500
$1.6 M $16,000 $5,500 $21,500
On 7/28/2020Council Waived Building Fees ($35,000)
For Taco BellFranchiseeSERJ Taco
Council Approved
Payment of City
Building Permit Fees:
Taco Bell paid approximately
$30,000 in other Permit Fees to
Other Agencies
Payment of City Fees
Sales Tax Rebate Program
Sales Sales Taxes
Property
Taxes
Total
Revenue
Sales Tax
Rebate
City
Revenue
1,200,000$ 12,000$ 5,500$ 17,500$ 8,300$ 9,200$
1,600,000$ 16,000$ 5,500$ 21,500$ -$ 21,500$
35 Employees
20 FTE
Grand Terrace Taco Bell
Project Total Cost is Estimated to be $2,000,000
Available for Any Questions