Temecula approves agreement to reimburse portion of sales tax for new Lexus dealership

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The Temecula City Council at its Dec. 10 meeting approved an agreement with the owners of the planned Temecula Valley Lexus to reimburse the dealership for a portion of its sales tax revenue, a part of an incentive the city council passed last year to attract new automotive dealers to town.In May 2018, the city approved the Automotive Fee Reimbursement Policy, which allows the city to give up to 75 percent of new sales tax revenue, at an amount not to exceed $250,000, to a new dealership after its first year.The city has been in talks with Lexus since June 2018 to build a new dealer in town, according to city staff. Right now, local auto buyers have to drive to Escondido or Riverside to find a Lexus dealership.In September, a formal development plan was submitted for constructi
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