Monday 12 November 2012

Merrill/ Wal Mart Agreement

Posted at 5:03 AM

Tuesday evening November 13, 2012, the Merrill Committee of a Whole will consider development agreement by and between Wal-Mart Real Estate Business Trust and the City of Merrill to facilitate new development on South Pine Ridge Ave. The Committee of a Whole will make a recommendation and then a resolution is expected to be considered at the Tuesday night Common Council Meeting.  This development agreement is a key document to get the new Wal Mart on a fast track through City Government.

The resolution up from consideration on Tuesday includes cost sharing between the City of Merrill and the Wal Mart Corporation to resolve existing traffic and safety issues at the highway 64 and Pine Ridge intersection and an incentive payment to the Wal Mart to assist in development. On page 7, section D of the development agreement between Wal Mart and the City of Merrill, it states the city will give a lump sum payment of 400 thousand dollars to Wal Mart after the City completes the construction of the intersection improvements. The City of Merrill intends to recover the payment through tax increment from the City’s Tax Incremental district #3. Tuesday night’s Committee of a Whole agenda includes a public comment period after committee members make a recommendation on the Development agreement with Wal Mart.

After public comment, the Committee of a Whole will convene into closed session to consider competitive or bargaining reasons for potential TIF and other development incentives for property located in Tax Increment District No. 5 (Hwy. 107/Taylor St.). Details of any closed sessions are guarded as to not affect any delicate negotiations. After reviewing City of Merrill publications, It is believed Committee members will be discussing an Industrial revenue bond for a possible new manufacturing plant in the Merrill industrial park. The committee of a whole meeting starts at 6pm in the common council chambers at Merrill City Hall.

WJMT will broadcast the Common Council Meeting Tuesday night at 7pm.

 

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