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ALTON - The Alton City Council voted 6-1 to officially approve an $8.1 million redevelopment agreement for the new Route 3 and Buckmaster Business District, also known as Alton Circle Plaza, which was passed by the Committee of the Whole earlier this week.
The redevelopment agreement has been made between the City of Alton and Missouri-based Valcour Development Company. The total cost, which the city has agreed to reimburse up to half of, covers several interior and exterior renovation projects around the newly established Route 3 and Buckmaster Business District, which roughly covers the area encompassing Big Lots, Goodwill, and other stores, but excludes the new Starbucks location.
The city plans to reimburse Valcour through new sales tax revenue generated by a 1% sales tax increase on most retail items sold within the newly established district. Mike Batchelor has repeatedly and publicly criticized the city’s decision to raise sales taxes in the area, noting it contains Alton’s two main discount stores, which he said low income residents depend on.
Alderwoman Rosetta Brown was the only member of the council to vote against the redevelopment agreement, keeping consistent with her vote during the Committee of the Whole meeting on Monday and her previous negative votes against the business district’s establishment, plan, and sales tax increase.
More details about the redevelopment agreement and links to past coverage of the business district are available in this related story on Riverbender.com.
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