PROGRAM GUIDELINES
RESIDENT VEHICLE REBATE PROGRAM
As a means to spur growth of the local tax base and to encourage Placentia residents to "buy local", the City of Placentia has developed the Resident Vehicle Rebate Program ("Program") that incentivizes Placentia residents to purchase a car and/or truck from an existing or currently proposed franchised auto dealer within the City of Placentia.
The Program provides a $500 rebate to a Placentia resident who purchases a new car or truck from a franchised Placentia auto dealer. The Program was developed to avoid leakage of local automotive purchases to outside jurisdictions- and would ensure that future revenue generated by this sector will be available to provide vital City services.
Program Objectives
• Reinvest in the local economy.
• Incentivize residents to shop local.
• Avoid leakage of automotive purchases to other cities. ■ Maintain a strong retail sales base in the City.
Buy Local
The Resident Vehicle Rebate Program ("Program") has been designed to encourage residents to purchase or lease a car or truck from a franchised auto dealers in the City of Placentia. A list of eligible dealerships is provided below.
Eligible Dealerships
1. Fairway Ford - 1350 E. Yorba Linda Drive, Placentia, CA 92870
2. Audi North Orange County - 1275 E. Yorba Linda Drive, Placentia, CA 92870 Eligible Participants
Any resident of the City of Placentia that purchases or leases a new automobile or truck from the eligible dealership is eligible to receive the $500 rebate. w Qualified residents must be able to provide proof of Placentia residency to dealership via a California Driver's license.
• Qualified residents must sign a Placentia Resident Rebate Form verifying residency. ■ $500 rebate will be applied to the purchase/lease price on the sales contract. ■ Minimum car purchase is subject to a final sales price of $25,000 (after all manufacturer rebates and dealer incentives).
Qualifying Vehicles
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• All new purchases of new cars or trucks (minimum final sales price of $25,000) are eligible.
All new leases of a new cars or truck is eligible.
■ Motorcycles, off-road vehicles or watercraft are not eligible purchases under this program.
Rebate Administration and Process
1. Participating dealers document the sale/lease of a new vehicle using the Resident Rebate Form. Dealer must include: 1) final sales invoice showing proof of purchase; 2) Resident Rebate Form 3) copy of valid resident California Driver's license for full reimbursement.
2. On a monthly basis dealers will submit all Resident Rebate Forms with required documentation to the City of Placentia for reimbursement and processing. Purchase summary form must be filled out and attached with rebate forms.
3. Within 30 days of receipt from dealerships, City will provide reimbursement to dealers.
4. Dealers that reimburse a non -Placentia resident will not be reimbursed from the City.
Dealer Responsibilities
■ Dealership franchises must be in good standing with their manufacturer. ■ Dealerships must promote the Resident Vehicle Rebate Program via existing and/or new marketing efforts.
• Dealerships must collect and submit all required documentation as proof of residency for qualified Placentia residents.
Program Term
The first term of the Resident Vehicle Rebate Program shall be for three years from May 1, 2022 to April 30, 2025.
Program Administration
Within 5 business days of receipt of documentation from dealerships, the City of Placentia's Economic Development Division will review the rebate applications and all supporting documentation. If documentation is missing, staff will request additional documentation from the dealerships. This will delay the processing of payment until all required documentation is received.
Upon approval of documentation, Economic Development Division staff will forward to the City of Placentia's Finance Agency for processing and reimbursement. The City of Placentia's Finance Agency will be responsible for issuing checks to dealerships within 30 days of receipt of approved rebate forms.
Program Funding
The annual Program budget shall be limited to $120,000 for reimbursements.
Program Evaluation
Economic Development Division staff will evaluate the effectiveness of the program biannually by determining if the rebate has increased or kept stable the number of new car sales and leases for Placentia residents. Staff will also consider factors like the change in the economy and new dealerships opening outside of the City borders.
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HTV 9S7
PLACENTIA RESIDENT VEHICLE REBATE PROGRAM
FORM
VEHICLE IDENTIFICATION ELIGIBLE NEW MODEL # RETAIL DELIVERY DATE
NUMBER (VIN)
CUSTOMER INFORMATION FOR VALIDATION.
CUSTOMER LAST NAME FIRST, M.I. TELEPHONE NUMBER
STREET ADDRESS CITY, STATE =ZIP CODE
❑ Address has been verified as City of Placentia resident
DEALERSHIP NAME
Purchase Amount/Rebate Amount
Initial below: I, the customer and Placentia resident, have applied the Placentia Resident's Rebate towards the purchase of my vehicle. Therefore, I have assigned the cash payment directly to the dealer. I release the City of Placentia from any further claim or obligation for payment to me for this vehicle.
I, the customer, give the dealership named above permission to share this form, the final sales contract and a copy of my driver's license to the City of Placentia to process the rebate.
CUSTOMER SIGNATURE DATE
SALES MANAGER NAME (PLEASE PRINT) DEALERSHIP NAME DATE
SALES MANAGER SIGNATURE
DATE
THIS COMPLETED FORM MUST BE FORWARED TO THE CITY OF PLACENTIA WITH THE VEHICLE SALES DOCUMENTS. BY SIGNING
THE ABOVE DOCUMENT, THE DEALER IS VERIFYING THAT THE RESIDENT LIVES IN THE CITY OF PLACENTIA AND QUALIFIES FOR THE REBATE.
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PLACENTIA PROGRAM PURCHASE SUMMARY FORM
FOR THE MONTH OF
YEAR
DATE OF PURCHASE/LEASE
RESIDENT NAME NEW/LEASE AUTO
l..
REBATE AMOUNT
TOTAL REBATE AMOUNT FOR THE MONTH:
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