Business & Tech
THF Realty Presenting TDD Proposal for Florissant Walmart Development
Florissant residents and officials will have a chance to hear the presentation and voice their support or opposition to the traffic development district.
After receiving approval from the Florissant City Council earlier this year for a Walmart development, THF Realty will ask for even more public assistance.
Tuesday, THF Realty will host a public hearing at the pertaining to its request for a Traffic Development District (TDD) for the Walmart project.
This would be the third request for the realty company regarding the project. Previously, the company has asked for tax-increment financing and a community improvement district. A TDD is a bit different from the other requests, though.
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According to the Missouri Business and Community Services Division, a TDD can be created and be responsible for developing, maintaining or operating transportation-related projects where the district is located.
In addition, the district's board could have power to impose a property tax of 10 cents per $100 assessed value or a sales tax not exceeding 1 percent, dependent on voter approval, according to the Missouri Department of Transportation.
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In previous presentations, THF Realty presented a traffic study that indicated a traffic light, signage and an access way on Sunswept would need to be included for the store on Lindbergh Boulevard.
The Florissant City Council or administration will not be deciding whether the TDD will be effective for the city, instead it will go through a circuit court for a decision of whether it would be enacted. This could be the third TDD for the City of Florissant, as others have been approved previously including one for Shoppes at Cross Keys.
Florissant Mayor Tom Schneider said that he will be speaking at the public hearing to voice his opposition to this plan.
“I’m disappointed that they didn’t listen to the public,” he said Monday night following the City Council meeting.
Schneider added that this is the third time THF is seeking public assistance, and they should move further as Florissant City Council passed it to have no public assistance.
The public hearing will take place Tuesday at 7 p.m. at St. Louis County Florissant Valley branch.
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