Title/Name/Summary
Zeigler Nissan & Infiniti of Orland Park
History
In January 2016, Zeigler Auto Group purchased the Nissan and Infiniti dealerships in Orland Park. Ziegler has also been the owners of the Orland Park BMW Dealership since August of 2013. Zeigler Auto Group is a family owned and operated retail automotive dealership (23 locations) headquartered in Kalamazoo, Michigan (see attached summary).
The proposed project includes the construction of a new Infiniti dealership to be located at 8751 159th Street (the formerly approved Shoppes at 88th) and the renovation of the existing Nissan dealership. Zeigler has formally petitioned for their Special Use Permit and their public hearing is anticipated for August 2016. The vacant property (which was previously foreclosed) is also under contract with Zeigler pending Village approvals and entitlements. When finished, they project additional employment of 50 people.
Zeigler has requested a sales tax sharing Incentive Agreement with the Village of Orland Park to assist with their proposed project. Based upon their financial models, Zeigler anticipates increasing their taxable sales by over 100%, amounting to over $35 million in additional taxable sales. This would mean an increase in sales tax of over $356,000 annually, of which 50% would be shared with Zeigler, based upon the following proposed terms:
Nissan:
Nissan Dealership Renovation Project - $1,050,000 capped cost (capital costs only)
50% of incremental sales tax sharing (not including amount currently generated)
2015 Sales Tax Base Set - $207,628 (remains 100% Village of Orland Park)
Ten year term - This is consistent with previous BMW term
Engineer Verification of costs required
Job Creation/Retention and private investment numbers required
Claw back provision (incentive payback) if the dealership closes/relocates outside of Village of Orland Park within 10 years
Payments will be made quarterly by the Village of Orland Park, as increment is prod...
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