Politics & Government
Richmond Heights Approves Menards Tax Increment Financing
The Richmond Heights Council approved the measures Tuesday.
The Richmond Heights City Council Tuesday approved the Hadley Township South Tax Increment Financing (TIF) Redevelopment Plan.
The council held a vote on two bills regarding the $15 million in tax increment financing. Mayor James Beck said the city was waiting for the redevelopment agreement with Menards to vote on the bills.
The votes were unanimous.
Menards, a privately held chain of home improvement stores, will be the anchor of the $63 million South Hadley Redevelopment Plan.
Agreements have been reached with more than 90 percent of the residents of the southern portion of the township, which is set to be redeveloped, according to the St. Louis Post-Dispatch.See more on Patch:
- Richmond Heights Delays Approving Tax Increment Financing for Menards
- Menards Gains Traction, Richmond Heights Council OKs Hadley Project Financing Plan
- Richmond Heights Menards: Commission Sends Plan to Council
- Menards Cost-Benefit Analysis Planned in Richmond Heights
- Pace Proposes its Hadley Township Plan to City Council
- Hadley Reaction: From 'Menards. 100%' to 'This is Absurd'
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