Cost Of Costco, Whole Foods Project: Tax Plan Adds Up To Small Percentage Of Developers’ Share

Map of Pennsylvania highlighting Lehigh County (Photo credit: Wikipedia)

In the ongoing debate over whether the Hamilton Crossings shopping center should be financed with tax money, a common question is why developers can’t make do without it.

The proposed tax-increment financing plan is expected to stack up between $6 million and $6.5 million for the roughly $140 million project, or less than 5 percent of the total.

Some TIF plan opponents have said the developers, Tim Harrison, of Staten Island, N.Y., and The Goldenberg Group, of Blue Bell, Pa., ought to be able to come up with the relatively small sum without reaching into taxpayers’ pockets.

Read more: http://www.lehighvalleylive.com/lehigh-county/index.ssf/2014/06/tax_plan_adds_up_to_10_percent.html

Lower Macungie To Apply For $2.75 Million In Costco Project Grants

Map of Pennsylvania highlighting Lehigh County (Photo credit: Wikipedia)

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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Developer: Whole Foods Would Join Costco In Lower Macungie

Map of Pennsylvania highlighting Lehigh County (Photo credit: Wikipedia)

Whole Foods Market has agreed to join Costco and Target as an anchor at the proposed $140 million Hamilton Crossings shopping center in Lower Macungie.

Jeremy Fogel of the Goldenberg Group of Montgomery County, one of two developers planning the project on the Route 222 bypass, confirmed Tuesday that the grocery store chain is the “high end” food store that he and Tim Harrison of Staten Island, N.Y., plan to bring to the shopping center.

“We have been working with Whole Foods for some time, but only yesterday have been authorized to announce that we have an approved deal with Whole Foods,” Fogel said.  “We are currently negotiating a lease for them to become part of the Hamilton Crossings Shopping Center.

Fogel said the addition of Whole Foods enhances the appeal of the proposed development.

Read more:  http://www.mcall.com/news/local/eastpenn/mc-lower-macungie-wholefoods-hamilton-crossings-20130604,0,1882822.story

Lehigh Valley Planners’ Review Of Costco Shopping Center On Hold

Map of Pennsylvania highlighting Lehigh County (Photo credit: Wikipedia)

The developers planning to bring a $140 million Costco-anchored shopping center to Lower Macungie asked the Lehigh Valley Planning Commission Thursday to postpone their formal review of the project to allow them to better explain their traffic improvements.

The sudden change in plans came two days after Lehigh County Commissioner Percy Dougherty told his board that he expected the planners to oppose the project’s traffic plan during their Thursday meeting.

Jeremy Fogel of the Goldenberg Group, one of two developers proposing the shopping center, said Friday that he and partner Tim Harrison of Staten Island wanted to meet with planners before they finalize their review and make recommendations. The shopping center, billed as a center modeled after the Promenade Shops of Saucon Valley, is planned for 63 acres to the east and west of Krocks Road, between Hamilton Boulevard and the Route 222 bypass.

“While they have some information that we submitted to the township, they do not have anywhere close to the full file of information related to transportation issues that has been created during the two-plus years that we have been working with [the state Department of Transportation],” Fogel wrote in an e-mailed response to questions.

Read more:  http://www.mcall.com/news/local/eastpenn/mc-lehigh-valley-planning-commission-hamilton-cros-20130426,0,7797015.story