The Killeen Economic Development Corporation on Monday tacked another $275,000 in incentives to Northwest Tidwell’s $1 million sales tax rebate to pave the way for a new Wal-Mart Supercenter to be constructed at Bunny Trail and Stan Schlueter Loop.
“This is a follow up on the city’s action taken last week,” said John Crutchfield, EDC secretary and Greater Killeen Chamber of Commerce president, during the organization’s board meeting.
Last week, the Killeen City Council approved a half-cent sales tax rebate for Northwest Tidwell for the development of the 26-acre lot, which will contain a new Wal-Mart Supercenter and other retailers, until $1 million is collected by the company.
The additional incentive provides another $100,000 for a possible sewer line extension and $175,000 for traffic signals in the area.
The sewer line should accommodate both the 26-acre lot — the first phase of the development — and the full 80 acres of the proposed development, Crutchfield said. It also should service other area properties if needed.
Other retailers, including junior anchor stores, are expected to follow Wal-Mart’s construction.
Funds for the traffic signals will help reduce vehicle congestion in the area and should at least include lights at Bunny Trail and Stan Schlueter Loop, Crutchfield said.
Exact locations will be determined by the Texas Department of Transportation, the city and the developer, he said.
To receive the incentives, Northwest Tidwell agreed to at least a $5 million capital investment on the site and the creation of 340 jobs.
EDC board members also approved the trade of 15 acres to Austin-based First Advisors — the future developers of the Las Cascata Shopping Center off Farm-to-Market 2410 near Skylark Field Airport.
In exchange for the land, which is also adjacent to Skylark, the city will receive right of way on FM 2410 and a 3-acre lot for the construction of a public safety facility.