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Council moves forward on 10-year, 75% CRA incentive for planned Tractor Supply/Dollar Tree sites
Summary
Council introduced a CRA agreement authorizing a 10-year, 75% incentive for FIDC 67 LLC tied to development that includes Tractor Supply and Dollar Tree; council asked about terms and then approved the authorization to execute the agreement.
Council considered Resolution 24-R-640, authorizing the city manager to execute a Community Reinvestment Area (CRA) agreement with FIDC 67 LLC related to planned development that would include Tractor Supply and Dollar Tree. The resolution was moved and seconded and council took roll call on the authorization.
A council member asked about terms, and staff confirmed a 10-year term at 75% (tax abatement) for the projects discussed. The agreement and related paperwork were introduced for council consideration and staff said more details would be available through the CRA paperwork and planning commission process.
Separately, staff noted A Plus Powder Coaters is pursuing a third expansion and estimated adding roughly six to eight jobs; that CRA request was with the committee and will be followed up.
