Wal-Mart Subsidies in Belleville (Green Mount Rd), IL
Store Details
City Belleville (Green Mount Rd)
State IL
Address Green Mount Rd and Illinois Rte 161
ZIP code 62220
County St. Clair
Type of Facility Supercenter
Year Opened expected Fall 2007
Value of Subsidies $ 9.9 million

Narrative
The city created a tax increment financing district and used other revenue sources to reimburse the developer, THF Realty, $19.8 million for development costs, including land acquisition. The development will have two anchor stores--a Lowe's (already open) and the Wal-Mart Supercenter. We assume half the subsidy can be attributed to each anchor, making Wal-Mart's portion about $9.9 million. When this Wal-Mart opens, the company will close another store about two miles away.

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