The city of Charlotte will give the developers of a new outlet mall up to $5.1 million in property tax rebates over 10 years in exchange for making infrastructure improvements near the site.
The City Council voted unanimously Monday night to give the developers Tanger Factory Outlet Centers, Simon Property Group and Childress Klein Properties 45 percent of their property tax revenues over a 10-year period.
Mecklenburg County would pay two-thirds of the $5.1 million and the city would pay one-third under the plan. The county approved its part of the agreement last week.
The 90-retailer project is scheduled to open in spring 2014. The city expects the total investment in the mall to be $100 million.
The improvements would cost about $7.7 million overall, according to the city. The developers would pay the balance.
The work includes: improvements to Steele Creek Road; intersection improvements to Steele Creek Road at Brown-Grier Road, Shopton Road, Trojan Drive/Rigsby Road and the Interstate 485 Inner and Outer ramps; intersection improvements to Dixie River Road and future Berewick Commons Parkway Extension; the extension of Trojan Drive between Steele Creek Road (N.C. 160) and Shopton Road; and improvements to Dixie River Road between Steele Creek Road and Shopton Road., including a two-lane roundabout at Dixie River Road and a proposed mall entrance.
The mall would be 350,000 square feet, with the option to expand to 400,000. The developers plans for the 82-acre site also include a 120-room hotel.
The project would create 900 full- and part-time jobs, as well as 200 construction jobs.
Originally, Simon and Tanger each planned to build their own outlet malls last year. Simons would have been in Stallings, and Tangers would have been 22 miles away at the Steele Creek site. The companies eventually agreed to team up and jointly develop a single site, the Steele Creek location, and call it Charlotte Premium Outlets.
Other major development projects also have received support from the city for infrastructure.
The outlet mall site is west of I-485 and surrounded by Shopton Road, Dixie River Road, Trojan Drive and Steele Creek Road.
The mall site lies less than one mile upstream of the 23-acre Browns Cove. Lake Wylie residents have raised concerns about pollution and runoff from the project. Browns Cove is filling with sediment from past development nearby.
Charlottes water-quality administrator has said the city may require the malls developers to measure the turbidity, or muddiness, of stormwater from the site that reaches nearby streams.
Sam Perkins of the Catawba Riverkeeper Foundation asked the city Monday to dredge the cove.
The city owes it to Browns Cove residents to dredge the cove, Perkins said. The city should tack on a provision (with the developer) to cover the cost of dredging. It should begin immediately.
Council member Beth Pickering said shes worried about the cove.
I like this project, but Im concerned about Browns Cove, Pickering said. We have to find a way to clean it up.