Santa Fe Springs : Sales Tax Incentive Offered
The Santa Fe Springs City Council, acting as the Redevelopment Agency, approved an agreement Tuesday to offer a cash incentive to the developer of an industrial park if sales tax-producing companies become tenants.
O’Donnell, Brigham & Partners, the firm building the Heritage Corporate Center that will include office and industrial buildings, restaurants and a day-care center, will receive 25% of the sales tax generated by a tenant in its first four years. The tenant must be new to the city and must generate more than $40,000 in sales tax.
The project at Telegraph Road and Norwalk Boulevard will be the largest development in the city when completed. Construction of the first phase, which will consist of 13 buildings, is under way.