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Kerrville approves limited sales‑tax rebate to spur River Hills Mall redevelopment
Summary
The Kerrville City Council unanimously approved an economic development agreement offering a capped, performance‑based sales‑tax rebate to River Hills Mall owners if Academy Sports and Outdoors locates there. The agreement caps rebates at $125,000 per year for up to four years (maximum $500,000) and requires performance steps before payments.
Kerrville — The Kerrville City Council voted unanimously May 13 to approve an economic development agreement with the owners of River Hills Mall that offers a capped, performance‑based rebate of city sales tax to incentivize demolition and repurposing of a central portion of the mall.
Under the approved agreement, the mall owners would spend about $4 million to demo and renovate a middle section of the mall and, if Academy Sports and Outdoors leases the redeveloped space and meets performance conditions, would receive a 50 percent rebate of the city portion of sales tax generated by that store for up to four years, capped at $125,000 per year and $500,000 total.
The Nut Graf: Council and staff framed the agreement as a targeted, time‑limited incentive to…
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