Fri February 22, 2013
New Outlet Mall On Fast-Track
The proposed outlet mall for southwest Charlotte is on a fast track to get city and county approval for tax breaks and land-use changes. The county commission has already approved a gift to the developers of up to $6 million. The city council is poised to do the same. WFAE's Julie Rose explains.
Tanger Factory Outlets and Simon Property Group are in a hurry to start attracting those zealous shoppers who drive for hours to hit the outlet mall.
"In a perfect world we'd be breaking ground in July of this year and opening in July of 2014," said Kevin Jennings of Tanger, speaking to the city council's economic development committee which quickly – and unanimously – approved a combined city and county property tax break worth up to $6 million for the mall.
The bonus would be paid over 10 years and would cover most of the $7.7 million Tanger and Simon expect to spend on road improvements around the mall.
Councilwoman LaWana Mayfield says the real payoff will be the nearly $3 million in sales taxes the mall is expected to bring in each year – about half of which would come from shoppers who live outside Mecklenburg County.
"When you think of outlets in general you look at a lot of church groups, a lot of organizations that make trips to outlets," says Mayfield, who represents the Steele Creek neighborhood where the new mall will be built. "We're looking at this expanding way beyond the Charlotte region."
The full City Council will vote on the outlet mall tax rebate Monday. City staff have promised to expedite zoning and permit approvals.