Wal-Mart Subsidies in Duarte, CA
|Address||1600 S Mountain Ave|
|Type of Facility||discount store|
|Value of Subsidies||$1.8 million|
NarrativeThe city subsidized the purchase price of the land for this discount store. The landowner was selling the site for $11 per square foot, but Wal-Mart was only willing to pay $8. The city financed the gap, borrowing the money from Wal-Mart and repaying the debt through a sales tax rebate.