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La Verne Ca Contracts

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CALIFORNIA | LOCAL
June 23, 1993
La Verne officials have answered Person Ford's plea for financial assistance by proposing to loan the auto dealer, the city's largest sales tax producer, $400,000 in exchange for a promise to stay put for five more years. Under an agreement drafted by city officials, owner Warren Person will not have to pay back the loan if he sells enough cars. To avoid yearly payments on the loan, his business must generate an increased amount of sales tax revenue during each of the five years.
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CALIFORNIA | LOCAL
June 23, 1993
La Verne officials have answered Person Ford's plea for financial assistance by proposing to loan the auto dealer, the city's largest sales tax producer, $400,000 in exchange for a promise to stay put for five more years. Under an agreement drafted by city officials, owner Warren Person will not have to pay back the loan if he sells enough cars. To avoid yearly payments on the loan, his business must generate an increased amount of sales tax revenue during each of the five years.
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