The Redevelopment Area totals approximately 92 acres of land and is generally bordered by Interstate State Highway 67 Business and Interstate State Highway 67 By-Pass to the north, east and west and by Oak Grove Road to the south.
The primary purpose of the Plan was to establish a comprehensive program for the redevelopment of the Redevelopment Area that would reduce or eliminate certain conditions, the existence of which qualified the Redevelopment Area to be a Blighted Area in accordance with the TIF Act and would enhance the tax base of the taxing districts within area. The Project included the demolition and removal of some of the existing buildings and the construction of several new retail and commercial buildings and related site improvements. The major anchor tenants are Menards and Wal-Mart Neighborhood Market.
Starting-Up
Blight
Project had unusual/extraordinary costs that made the project financially unfeasible in the market place. Project required significant public infrastructure investment to remedy existing inadequate conditions. Project required significant public infrastructure investment to construct adequate capacity to support the project. Project required parcel assembly and/or relocation costs.