Business & Tech
Menards Gains Traction, Richmond Heights Council OKs Hadley Project Financing Pan
Richmond Heights City Council approved an ordinance allowing the use of public funds for the plan, which Menards will anchor, on Monday night.
Menards has financing support.
The Richmond Heights City Council has given initial approval to an ordinance to allow public funds to be used for the South Hadley Redevelopment Plan.
The council is expected to take a final vote later this month on the plan to approve $15 million in tax increment financing. Menards will anchor the $63 million project.
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
Menards is a privately held chain of home improvement stores, will be the anchor. The project includes two out lots as opportunities for other small businesses, according to the St. Louis Post Dispatch (PD).
"A lot of the properties are delinquent in taxes," she said. "It would correct a blighted area and consolidate 100 lots into a comprehensive design."
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
To read more about the development see:
- Hadley Township: Menards Making 'Very Positive Progress'
- Hurdle Cleared for New Menards in Hadley Township
- Hadley Township: Pace Properties to Update City on Buyout Talks
- Pace Properties Abandons Hadley Township Retail Development
- Is This the Last Chance for Hadley Township Redevelopment
- Hadley Township Update Given By City Manager
- Carnahan 'Disappointed' by Hadley Township Redevelopment
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
We’ve removed the ability to reply as we work to make improvements. Learn more here