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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