CONTRACTPENDING

Motorsport IP Acquisition plans with city grant

Disclosed value: $743,453; From minutes
Document date: Feb 11, 2025
Term: 3 years

What it covers

Motorsport IP Acquisition Co, I, LLC proposes to develop a site to support the development of the power unit (engine) for the Cadillac F1 vehicle. The total value of the City's three-year/85% grant is estimated to equal $743,453 depending on the actual investment.

Who holds it

Motorsport Ip Acquisition holds this tax incentive contract with Town of Concord. Its other public contracts on record include work for City of Concord city and Housing Authority of the city of Concord.

What happens next

Term as filed: 3 years.

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Contract details

Contract type: Tax Incentive
Amount: $743,453
Document date: February 11, 2025
Term: 3 years
Vendor: Motorsport Ip Acquisition
Agency: Town of Concord
Source document: concord-city-council-work-session-minutes-february-11-2025_123.pdf (Minutes)

Motorsport Ip Acquisition's other public contracts

City of Concord city, North CarolinaConcord Considers $743K Grant for Motorsport IP · Feb 13, 2025$743.5K Housing Authority of the city of Concord, North CarolinaCity of Concord considers Motorsport IP Economic Grant · Feb 13, 2025$743.5K Town of Concord, OhioMotorsport IP awarded economic development grant · Feb 13, 2025$743.5K Town of Concord, NebraskaMotorsport IP Acquisition Co. receive $743K economic grant · Feb 13, 2025$743.5K Town of Concord, ArkansasMotorsport IP Acquisition could receive $743,453 grant · Feb 13, 2025$743.5K All Motorsport Ip Acquisition contractsVendor profile

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Questions about this contract

Who was awarded the tax incentive contract by Town of Concord?

Motorsport Ip Acquisition was awarded this tax incentive contract by Town of Concord, as recorded on February 11, 2025. The contract value is $743,453.

How much is the Motorsport Ip Acquisition contract with Town of Concord worth?

The Motorsport Ip Acquisition contract with Town of Concord is valued at $743,453, covering tax incentive work.

What type of contract is this?

This is a Tax Incentive contract, documented as a minutes record.

Where was this contract approved?

This contract appears in concord-city-council-work-session-minutes-february-11-2025_123.pdf (Minutes), dated February 11, 2025 from Town of Concord. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Motorsport Ip Acquisition hold?

Motorsport Ip Acquisition may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is Town of Concord currently buying?

Explore Town of Concord's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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