.

$1.5M Tax Rebate for D'Arcy VW Gets City OK

The tax break was part of deal inked with the dealership last year as an incentive to get them to purchase and renovate the shuttered Saturn site.

The Joliet City Council has signed off on a $1.5 million sales tax rebate for , an incentive tied to the business owner’s decision to buy and renovate the long-vacant Saturn car dealership on West Jefferson Avenue.

Under the deal, 50 percent of the city sales tax accrued by the new dealership will be rebated until the $1.5 million mark is reached.

The arrangement was part of the city’s negotiations with owner Terry D’Arcy last year, when he decided to purchase the property at 2861 W. Jefferson St. and sink $3.5 million into its renovation, City Manager Tom Thanas told the council Monday.

“The rebate is intended to help stimulate (D’Arcy’s) investment, taking what was a shuttered car dealership and putting it back to useful life,” Thanas said. “It also created several new jobs in the community.”

Previously, D’Arcy Volkswagen had shared space with D’Arcy Hyundai at 2521 W. Jefferson St. Terry D’Arcy also owns a at 2022 Essington Road.

According to the development agreement, D’Arcy sells more than 400 Volkswagens every year, a trend that’s expected to continue “for the foreseeable future.” It also vehicle service and repair work and sells parts.

An added benefit from the deal, Thanas said, will be Terry D’Arcy’s assistance in helping persuade the Illinois Department of Transportation that a traffic signal is needed at the entrance of his business. The light would also help traffic get in and out of , located across the street at 3000 W. Jefferson.

The city’s currently talking to the officials with the Joliet Park District, which owns Inwood, about sharing the cost of that light and the road realignment work it will require, he said.

“The sales tax rebate is intended to help reimburse Terry for his portion (of the traffic signal expense) and some of the portions he’s (already) … picked up for the city of Joliet,” Thanas said.

IDOT does not currently support a traffic signal at that location, in part because it’s too close to the one at Infantry Road, Thanas said. However, he believes state officials can be persuaded of its need, he said.  

Infamous Steve June 20, 2012 at 03:30 PM
Wow what a bunch of morons. I could say so much more but whats the damn point.
WilliamN June 20, 2012 at 06:53 PM
The point would be that you have no intelligent response. You would rather call respected members of the local business community childish names, and not offer anything constructive.
John Roberts July 11, 2012 at 05:20 PM
Then what's the difference with a person that has a business of fixing up houses and selling them..their bettering the community,they sink 20 grand into a house do they get a tax break?.....no they het hit with 28% capital gain tax....if you but a building and want to sink 3 million into it that's your deal not the cities...who do you all think is going to make up for that invisible tax loss for the city they are going to claim...we are
Infamous Steve July 12, 2012 at 02:11 PM
My point exactly!

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something