City council members approved a retail incentive agreement Tuesday night with an as-yet-to-be-named national clothing and clothing accessories retailer.
Ward 1 Alderman Rickey Williams Jr. said he doesn’t like approving an agreement with a nameless entity.
Mayor Scott Eisenhauer said as soon as they are able to announce the retailer, city officials will.
“We, too, wish we’d be able to provide more information,” Eisenhauer said.
The name could be announced within the next 30 days, according to Vermilion Advantage CEO and President Vicki Haugen.
The store could be open by October, in time for the holiday shopping season, Haugen added. If construction doesn’t proceed as quickly, she said the store would be open by March. The retailer has 482 stores already.
The Danville store will be the fifth anchor store in the Village Mall, going into where Steve & Barry’s was located on the back side of the mall.
The redevelopment agreement is with T Danville Mall, LLC, owner of the Village Mall.
The city would reimburse 50 percent of the city portion of retail sales tax revenue generated by the store each year for a five-year period. The rebate would not exceed $100,000 in any year.
The retailer has projected sales of $6 million. The agreement also calls for at least a seven-year lease.
There also was a public hearing Tuesday night on the Government Aggregation Opt-Out Program and Plan of Operations and Governance for the city. The plan, and also agreement for electrical aggregation supply, which aldermen approved, is in relation to the city going out for bid with 37 other communities for lower-costing electrical service on May 15. A few questions were asked by aldermen and residents.
In other business Tuesday:
- New alderman were sworn in — Rickey Williams Jr. in Ward 1, Frank Hoskins in Ward 2 taking over Lois Cooper’s seat, R.J. Davis in Ward 3 taking over Bill Gilbert’s seat, Michael Puhr in Ward 5, Steve Nichols in Ward 6 and Steve Foster in Ward 7.