Business & Tech

Council Approves 40% Tax Break for Dollar Tree

The town council reduced the tax breaks granted to Dollar Tree to an average of 40 percent, down from a 60-percent average.

Town Council members voted to approve a tax abatement for Dollar Tree, Inc., which has proposed to build a one-million-square-foot distribution center on International Drive and Stone Road.

Should the project be approved by all appropriate town committees, the company will receive a four-year tax break deal at an average of 40 percent.

The abatement offered by the town council was reduced twice within the past two weeks, with the previous offer representing an average of 75-percent in savings to the company.

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The abatement policy requires that the company invest a total of $60 million into the project by September 2013 and exercise efforts to recruit local resients for employment.

Town Hall Council Chambers were packed with residents of the Rainbow neighborhood who came to speak in opposition to the abatement, Monday night.

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While nearly a dozen residents addressed the council, pleading with them to vote down the measure, which many believe could have an adverse affect on their quality of life, Deputy Mayor Alan Simon told residents that although he is supporting the abatement, residents' comments have made a difference in the process.

Dollar Tree was initially seeking an abatement at an average of 70 percent over five years. That request was met with a two lower offers from the town. 

Simon said a big reason for the reduction in the town's offer to the company was the opposition expressed by those who live in the area.

The project will come before the Town Planning and Zoning Commission on March 28.


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