For those of you who may have missed it, here is an excerpt from an article from the September 28th Chesterton Tribune:
Wal-Mart in Chesterton? LEL-Gierczyk eye options for site west of 49
Is a Wal-Mart in the future of Chesterton?
It is is, under one of two scenarios in a study on tax increment financing commissioned by Chesterton Development Partners LLC (CDP), the Lake Erie Land Company?’s new joint-development partner, whose principal is James Gierczyk, a Chicago-area developer and builder.
The first scenario envisions a 340,000-square foot big-box development plus 170,000 square feet of ?“junior-box?” development. The document does not specify any particular retailer.
The second scenario, however, envisions the same square footage as the first one plus a 180,000-square foot Wal-Mart.
That document is scheduled to be on the agenda of the Chesterton Redevelopment Commission at its next meeting, 6:30 p.m. Oct. 23, at which time Gierczyk or a representative could pitch to members the possibility of a bond issue, to be repaid with TIF revenues, for the purpose of financing infrastructure for one of the two scenarios.
That, at any rate, is the understanding of Town Attorney Chuck Lukmann. ?“I believe that he wants to pursue funding from the Redevelopment Commission for some infrastructure,?” he told the Chesterton Tribune today. Lukmann was unable to say what infrastructure Gierczyk may have in mind.
By DuneChic
Wal-Mart in Chesterton? LEL-Gierczyk eye options for site west of 49
Is a Wal-Mart in the future of Chesterton?
It is is, under one of two scenarios in a study on tax increment financing commissioned by Chesterton Development Partners LLC (CDP), the Lake Erie Land Company?’s new joint-development partner, whose principal is James Gierczyk, a Chicago-area developer and builder.
The first scenario envisions a 340,000-square foot big-box development plus 170,000 square feet of ?“junior-box?” development. The document does not specify any particular retailer.
The second scenario, however, envisions the same square footage as the first one plus a 180,000-square foot Wal-Mart.
That document is scheduled to be on the agenda of the Chesterton Redevelopment Commission at its next meeting, 6:30 p.m. Oct. 23, at which time Gierczyk or a representative could pitch to members the possibility of a bond issue, to be repaid with TIF revenues, for the purpose of financing infrastructure for one of the two scenarios.
That, at any rate, is the understanding of Town Attorney Chuck Lukmann. ?“I believe that he wants to pursue funding from the Redevelopment Commission for some infrastructure,?” he told the Chesterton Tribune today. Lukmann was unable to say what infrastructure Gierczyk may have in mind.
By DuneChic
