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Mason City council to set public hearing on development agreement to place three new stores in Willow Creek Crossing shopping center

MASON CITY — The City Council in Mason City tonight will consider setting a public hearing for next month to consider a development agreement to bring three new stores to the Willow Creek Crossing shopping center on the city’s west side.

In a memo to the council, City Administrator Aaron Burnett says the owner of the center, West Lakes P & S LLC, have negotiated leases for three of the vacant spaces in the center. Old Navy has submitted a building permit for 12,500 square feet to open an apparel store in a portion of the former Best Buy space. Five Below, a retail chain that specializes in sales of items costing $5 or less, would occupy 10,622 square feet in the former MC Sports space. The third space is 22,000 square feet that originally was planned for Marshall’s, with the owners saying they are negotiating a lease with Ross Dress for Less, a discount apparel store.

A proposed development agreement would provide for up to ten annual payments of incremental tax rebates to the owner with a maximum benefit of $433,000. The rebates are based on the taxes due for the increase in value resulting from the improvements to the property by construction and leasing of the spaces. The council is being asked to set their June 7th meeting for the public hearing on the development proposal.

The council meets at 7 o’clock tonight in the Mason City Room at the Public Library.

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