Lower Macungie commissioners have approved an agreement to apply for and sponsor $2.75 million worth of state grants that would help fund a planned Costco-anchored shopping center.
The board on Thursday night unanimously approved an agreement with the developers of the planned $140 million Hamilton Crossings shopping center to serve as the public applicant for grants from the state’s Redevelopment Assistance Capital Program.
The money will be used for remediation and/or development of the property at the Route 222 bypass and Krocks Road if the project ultimately moves forward. The developer plans to bring a Whole Foods and Target to the shopping center.
The developers — the Goldenberg Group of Montgomery County and Tim Harrison of Staten Island, N.Y. — hit a snag earlier this year when Lehigh County commissioners rejected a plan that would have allowed the project to benefit from tax increment financing, an arrangement under which tax revenues from the shopping center would be used to finance the project.
Read more: http://www.mcall.com/news/local/eastpenn/mc-lower-macungie-hamilton-crossings-grant-approve-20130815,0,808817.story#ixzz2cEyfeEUl
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