Sales Tax Sharing Agreements

Section 7213 of the Revenue and Taxation Code requires that the City post the following information regarding its Sales Tax Sharing Agreements.

Dick Dewese Chevrolet, Inc. dba Tom Bell Chevrolet

This Agreement was entered into by the City and Dick Dewese Chevrolet, Inc. dba Tom Bell Chevrolet on November 6, 2012.
The agreement will terminate on August 1, 2026.
The agreement considers the substantial investment made by Dick Dewese Chevrolet, Inc. dba Tom Bell Chevrolet in order to modernize its showroom and increase sales.
In consideration of this investment and a covenant to continue to operate the property as a car dealership for another 10 years, the City agreed to a 10-year agreement for rebating a portion of sales tax generated by the dealership in excess of a certain baseline and, in no case to exceed 2/3rds of the dollar amount originally invested by the dealership during the 10-year life of the agreement.
Specifically, the agreement called for the following terms:
- Years 1-5 of the agreement: 50% of the amount of sales tax revenue received by the City in excess of $299,954.
- Years 6-10: 25% of the amount of sales tax revenue received by the City in excess of $299,954.
As of June 30, 2024, the total dollar amount of sales tax rebated under the agreement since its effective date is $700,962.50.
The total dollar amount of sales tax rebated under this agreement during Fiscal Year 2024 is $81,017.25.

Hatfield Buick GMC

This Agreement was entered into by the City and Hatfield Buick GMC on October 2, 2012.
The agreement will terminate on August 1, 2025.
The agreement considers the substantial investment made by Hatfield Buick GMC in order to modernize its showroom and increase sales.
In consideration of this investment and a covenant to continue to operate the property as a car dealership for another 10 years, the City agreed to a 10-year agreement for rebating a portion of sales tax generated by the dealership in excess of a certain baseline and, in no case to exceed 2/3rds of the dollar amount originally invested by the dealership during the 10-year life of the agreement.
Specifically, the agreement called for the following terms:
- Years 1-5 of the agreement: 50% of the amount of sales tax revenue received by the City in excess of $120,763.
- Years 6-10: 25% of the amount of sales tax revenue received by the City in excess of $120,763.
As of June 30, 2024, the total dollar amount of sales tax rebated under the agreement since its effective date is $210,998.50.
The total dollar amount of sales tax rebated under this agreement during Fiscal Year 2024 is $21,920.75.