Thursday, February 21, 2013

Tanger Outlet developers want tax reimbursements from city

CHARLOTTE, N.C. -- The board of county commissioners' unanimous vote approved giving the potential Tanger Outlet Mall something called a tax increment grant.

Basically the developers expect to spend around $8.5 million on roads and infrastructure improvements to the area around the location planned for the mall and 120-room hotel

They want the city and county to chip in up to $6 million dollars by giving the developers a 45 per cent rebate on the taxes it pays over the next ten years.

The county would be responsible for 2/3rds of the "discount" amount but commissioners say their focus is economic development

Tanger Outlets claims it will create 900 full and part time jobs.

But some Lake Wylie residents told city council Monday night they were worried the outlet mall, which would be located in the Steele Creek area off I-485, would hurt the environment.

City council decided to send the mall's request for tax rebates to a committee for further discussion.

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