Greenville closer to a Supercenter
The City of Greenville moved one step closer Monday towards becoming the newest location of a Wal-Mart Supercenter.
The City Council voted unanimously to enter into a developmental agreement with the Wal-Mart Real Estate Business Trust. P. Richard Hartley, council attorney, told the city leaders that after much negotiating, the two sides reached an agreement.
In brief, the City of Greenville agrees to pay a total of $600,000 towards the construction of an access street to the property behind Ruby Tuesday off Cahaba Road.
&uot;This is a development agreement whereby Wal-Mart will build a super Wal-Mart in a 145,000 square foot building,&uot; Hartley said.
&uot;In exchange for their agreement to do that, the city is going to contribute $600,000 for the construction of the road that goes between and Ghost Road and Manningham Road.&uot;
Hartley said the city also agrees to sublease the old store with a guarantee from the retailer.
&uot;Wal-Mart, to offset that is guaranteeing the city that the sales tax increase just from the super store over the old store will be $300,000 per year,&uot; Hartley said.
&uot;If they don’t increase that amount of money, they have to pay us some cash.&uot;
For example, Hartley said if the Wal-Mart Supercenter only earns $200,000 in sales tax, the company would pay the city the additional $100,000.
In addition, the city will join the Water Board, Industrial Board in a joint agreement forming a Cooperative District.
The Cooperative District will then sublease the old store from the city for a movie theater and any other businesses developers can move in.
&uot;The bottom line is that the increase in sales tax revenue, plus the rent, whatever rent we get from the old store, will far outweigh and will repay the cost of what the city is putting into this,&uot; Hartley said.
The Council also voted to enter into two contracts with Goodwyn, Mills & Cawood, Inc. for professional engineering design services.
They will design the industrial access road for the property where Hiwashin America Corporation and HYSCO America Company, Inc, will each build a factory.
Both companies are Tier One suppliers to the Hyundai plant in Hope Hull.
In other business, the council approved the following:
Resolution authorizing the application for a local law enforcement block grant.
According to Greenville Police Chief Lonzo the grant totals $12,306 and will be used where it is best needed in the department.
He said the last grant the department received went towards improving communication by purchasing portable radios.
n Resolution authorizing bids for fiscal year 2003-2004 maintenance and service contracts for police department vehicles.