Rock Hill Officials Privately Discuss CVS Pharmacy Tax Proposal
The St. Louis Post-Dispatch reported on the development this week.
Rumors of a CVS Pharmacy moving into the corner of Manchester and McKnight started sprouting up among area businesses in the spring of 2012. A broker on the project had been approaching business owners about it in April.
By July, the company made it official in an announcement to the city's board of aldermen. Since then, the proposal has limped along the process as representatives have tried to secure tax-supported financing to move a temporary firehouse that would be in the way of the 13,225-square-foot store with a double pharmacy drive-thru.
A special taxing district would be set up to generate $1.5 million in tax-increment financing that would go toward the firehouse relocation.
The St. Louis Post-Dispatch reported this week that the Rock Hill board of aldermen discussed the tax-increment financing in a closed meeting Tuesday night. The newspaper said officials would not discuss publicly what was said in the closed meeting, but at a public portion of the Tuesday meeting, residents were divided on the issue.
Board members must approve the measure for the TIF—and the CVS store—can proceed. The next meeting is scheduled for Feb. 19.