Friday, May 18, 2012

UG approves Wyandotte Plaza project


The Unified Government Board of Commissioners voted Thursday to finalize a $28 million project with RED Development that would revitalize the Wyandotte Plaza at 78th and State Avenue.

Some quick details:
  • A 75,000 Price Chopper store will be included in the center. Though a specific date of it opening is not available, under the agreement between the UG and RED, the store must be open by 2014. 
  • A one percent Community Improvement District Tax will be placed on all goods inside the plaza. 
  • The UG will provide up to $13.8 million in public financing. RED Development will also participate in the UG's NRA program.
  • The agreement also calls for Red to meet specific provisions when it comes to hiring businesses to finish the construction of the project. According to the deal, of all the firms used by RED, 13 percent might be local businesses; nine percent must be minority-owned businesses and six percent must be women-owned businesses. Prevailing wages must also be paid. If RED does not adhere to all of those provisions, the UG could reduce the public financing cost by 10 percent.
The vote was unanimous.

For more information, check out these previous stories: