Fairfield council OKs sales tax-sharing incentive for BMW dealer
FAIRFIELD The City Council on Tuesday unanimously approved an economic incentive for a BMW dealership with plans to locate in the Fairfield Auto Mall.
The incentive is a sales tax rebate for the first five years of operations, with the city getting the first $100,000 each year, and BMW of North America being rebated 85% of the additional sales tax generated after that.
The city estimates there will be about $2.63 million in sales tax generated over the five years, of which $1.81 million would go to the dealership.
BMW of North America has obtained the right to purchase a 4.8-acre vacant parcel in the Fairfield Auto Mall, 2390 Auto Mall Parkway, between Hopkins Acura and Caliber Collision.
Fairfield council to consider sharing sales tax with planned BMW dealership
City budget update, downtown promotions plan up for consideration
FAIRFIELD The City Council will consider a sales tax sharing incentive agreement Tuesday for a new BMW dealership, as well as review a 2020-21 budget update.
BMW of North America has obtained the right to purchase a 4.8-acre vacant parcel in the Fairfield Auto Mall, 2390 Auto Mall Parkway, between Hopkins Acura and Caliber Collision.
The dealer proposes to construct a 48,255-square-foot building that includes a new car sales showroom, sales offices, operations offices, parts sales and storage and a service shop.
City Alert: Future Automotive Group and Hansel Automotive Group coming to Fairfield Auto Mall
Fairfield, California – (Thursday, January 7, 2021) – After months of searching for the perfect location for a new auto dealership, Future Automotive Group and Hansel Automotive Group have purchased a property located in the Fairfield Auto Mall at 2595 Auto Mall Parkway. The property will serve as the home of Future Chrysler Dodge Jeep and Ram of Fairfield. Opening date for the dealership will be spring 2021. Steve Pleau, President and CEO of the Future Group said, “We could not have found a better location to expand our footprint and join the Fairfield community.”