Springfield Aldermen have given final approval to give HyVee 3.5 million Tax Increment Finance dollars for its project on MacArthur Boulevard. The Iowa-based chain wants to redevelop the old KMart building and surrounding structures into a new grocery store complex.
HyVee will be reimbursed for eligible project costs over the next 10 to 15 years, as the money generated from the TIF district hasn't yet materialized.
The company still plans to start work in March.
(posted 9:36 p.m. 01/09/2013 by Alex Degman)