Wal-Mart reportedly is considering pulling its proposal for a new South Side store over concerns about the tax-increment financing being sought by the project’s developers.
The developers want a $31.6 million subsidy for the proposed $110.8 million shopping center at 83rd and Stewart. The tax-increment financing would include $15.6 million for land acquisition even though Wal-Mart and some other users would pay for their portions of the property.
Wal-Mart gained city approval for a store in the West Side neighborhood of Austin in May over strong opposition based on the company’s labor practices and its impact on small, locally owned businesses. Ald. Howard Brookins (21st) has said that if Wal-Mart drops out of the deal, the shopping center proposed for his ward will not be built.