Economic Incentives Up To $2.6 Million Coming To Provide Relief To Grocery Store Developers In St. Charles City – Check More About It Here!

Economic incentives of up to $2.6 million will provide relief to grocery store developers in St. Charles City.

Grocery Store Developer Will Receive Up To $2.6 Million Economic Incentives Following Approved Agreement

Under the approved agreement of the city council, grocery store developers in Blue Goose Market will expect to receive up to $2.6 million in economic incentives for more than 15 years after a national grocer moves into the market space.

With the approved economic incentives, the construction costs and the amount of the materials that the grocery store developers have spent will be reimbursed to them, except the future costs for the maintenance of the grocery, which would be the developers’ responsibility.

However, the economic incentives will not be released if the grocery store is not opened until May 1, 2026; instead, they will receive reimbursement for the amount they spent on the parking lot improvements.

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Grocery Store Developers to Receive Economic Incentives While Proposed Grocer Will Expect Amendment to Development Agreement

Following the incoming economic incentives for grocery store developers, the proposed national grocer will expect an amendment to the previous development agreement in the grocery store, Daily Herald reported.

Currently, the Blue Goose Market is still under Lencioni until the approved economic incentives for grocery store developers are final and the property is sold.

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