MISSION VIEJO
The city has drawn up an agreement with Lexus of Mission Viejo in which it will split sales tax revenue with the dealership to help with the development of its new facility on Marguerite Parkway.
The agreement calls for any increase in sales tax revenue over the 1998 sales year to be evenly split between the city and the dealership. Lexus will receive up to $600,000 from the revenue sharing, which will last no longer than eight years.
The City Council will discuss the proposed agreement at its regular meeting Monday.
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