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Developers pitch annexation and Chapter 380 incentive to build Manville'area commercial center
Summary
Developers from BCS Capital Group asked Manville council to accept voluntary annexation and to consider a Chapter 380 sales-tax sharing package that would provide approximately $10 million (NPV) of offset payments to help fund site infrastructure for a proposed commercial center.
Developers pursuing a planned commercial center immediately north of Manville Town Center presented a two-part proposal at Monday's council meeting: voluntary annexation into the city, and a performance-driven Chapter 380 economic incentive agreement to offset significant site infrastructure costs.
"Our preferred path forward would be to come and join the city, to be voluntarily annexed in," said Aliyah Vincent, legal counsel for BCS Capital Group, describing the developer's intent to access municipal utilities and city permitting. Ryan Sweeney, representing BCS, told council the site has sufficient market interest from national and regional retailers but requires about $10 million net present value of incentive support to cover horizontal infrastructure and make the project viable.
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