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Council committee backs $5.1M for outlet mall

By Steve Harrison
sharrison@charlotteobserver.com

The Charlotte City Council’s economic development committee voted unanimously Thursday in support of a request by developers of a planned Steele Creek outlet mall for $5.1 million.

The money would be used to reimburse the developers – Tanger Factory Outlet Centers, Simon Property Group and Childress Klein Properties – for road improvements around the site.

They are asked to be reimbursed for 45 percent of the new property taxes they are expected to pay over a 10-year period.

The full City Council will consider the request Monday. The county would pay two-thirds and the city would pay one-third of the $5.1 million.

The 90-retailer project is scheduled to open in spring 2014.


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