FOCUS: ORANGE COUNTY COMMUNITY NEWS : MISSION VIEJO
The City Council approved a plan Monday to give Lexus of Mission Viejo $600,000 in sales and property tax revenue for its development of a new facility on Marguerite Parkway.
Any increase in property and sales tax revenue from 1998 will be split between the city and the dealership. The city will collect all sales tax revenue after eight years or after the dealership receives $600,000. Lexus officials had talked about moving the expanded dealership out of the city, which is why officials offered the revenue-sharing deal.
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