|Buffalo Mall Requests Public Financing for Dunham's Project|
|Posted by KSJB News on 3/21/2017 7:15:00 PM.|
| Mayor Katie Andersen
- The Jamestown City Council's Finance and Legal Committee took no
action Tuesday on a request from the owners of the Buffalo Mall for
public assistance in financing the remodeling of the the mall as it
prepares for the arrival of Dunham Sports this summer.
Representatives for Dunham Sports and the Buffalo Mall were not
present at the meeting.
Mayor Katie Andersen said much of the
request is protected under a confidentiality clause of the agreement
between Bon Investments of Englewood, NJ, owner of the Buffalo Mall
and the sporting goods retailer. Andersen said the city would have
to dermine how much information could be disclosed to the public.
Under the proposal, a tax increment financing district would be
established to use taxes paid on increased values of the property to
pay off the bond used to pay for the improvements. A similar plan
was used to draw Menards to Jamestown in 2015.