Wal-Mart seeks incentives to build Supercenter in north Fort Worth
02/07/2014 12:38 PM
02/07/2014 12:39 PM
Wal-Mart Stores is asking Fort Worth for $12 million in incentives to build a Wal-Mart Supercenter at the future southeast corner of Golden Triangle and Park Vista boulevards in north Fort Worth.
Wal-Mart plans a 182,000-square-foot store and a 20,000-square-foot pad site when Park Vista is built, according to a report on the city’s website Friday. The City Council is scheduled to hear the request Tuesday.
Under terms of the deal, Wal-Mart would build the store and the pad site by June 30, 2016, invest at least $13 million in the project by that time, employ at least 50 workers and “make a good faith effort” to spend at least 25 percent of certain construction costs with minority and women-owned businesses. The retailer must spend an additional $3 million on the project by June 30, 2019, the report said.
In return, Wal-Mart would receive a city sales tax and property tax rebate over the next 20 years. The incentive is capped at $12 million.
In addition, Wal-Mart would pay for and build four lanes of Park Vista Boulevard from Ray White Road to Keller Hicks Road. Terms of that construction is still being negotiated with the city, the report said.
If terms of the deal are not met, the city can terminate the agreement.
In November, Wal-Mart asked the city for $2.9 million in incentives for the construction of a second e-commerce fulfillment center in the Alliance development in north Fort Worth, but then backed away from the project. Wal-Mart was planning a $32 million, 850,000-square-foot facility that would employ 100 workers by the end of 2019.
Earlier in 2013, Wal-Mart leased a 788,000-square-foot building at 5300 Westport Parkway and opened an online fulfillment center after receiving a 10-year, 75 percent tax abatement on the $30 million project. The facility is expected to bring 400 full-time jobs by the end of 2017.
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