The Board of Aldermen unanimously passed the first reading of an ordinance to establish the Grain Valley Mercado Community Improvement District (CID) during its January 25th meeting.
Following a public hearing on the matter, the board approved the first reading of the ordinance which allows for the establishment of the CID located west of S. Buckner Tarsney Road and abuts the north side of NE McQuerry Road. The district covers approximately 12 acres with properties assessed at a value of $131,849.
STAR Acquisitions, Inc. and the City worked on the development incentive program which is expected to provide 85,000 square feet of fast food, retail, office, and industrial use. Construction is expected to begin by December 2021 and be completed by December 2024.
If approved, the district will establish a district sales tax of up to 1 percent (1.0%) for the funding of improvements and services that serve the property within the district.
The board also approved a contract with Midwest Pool Management to continue to provide management of the aquatic center through the 2023 season.
The board will meet for a workshop session on Tuesday, February 2nd at 6:00pm prior to the next regularly scheduled board meeting on February 8th at 7:00pm.