Menards Gains Traction, Richmond Heights Council OKs Hadley Project Financing Pan

Menards has financing support.

The Richmond Heights City Council has given initial approval to an ordinance to allow public funds to be used for the South Hadley Redevelopment Plan.

The council is expected to take a final vote later this month on the plan to approve $15 million in tax increment financing. Menards will anchor the $63 million project.

Menards is a privately held chain of home improvement stores, will be the anchor. The project includes two out lots as opportunities for other small businesses, according to the St. Louis Post Dispatch (PD).

"A lot of the properties are delinquent in taxes," she said. "It would correct a blighted area and consolidate 100 lots into a comprehensive design."

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