Dollar Tree Plans To Open Retail Store In Evansdale
Evansdale city leaders have cleared the way for a national retailer to build a new store in the community.
Council members met in regular session Tuesday night (Oct. 2, 2018). During the meeting, they took action that will allow Dollar Tree to construct an outlet near one of Evansdale's busiest intersections.
Elected city officials approved two resolutions related to the proposed commercial development. First, they agreed to sell three adjacent empty lots -- totaling about 5,300-square-feet or .846 acres -- to One Site Development for $80,000. Next, the council passed the development agreement.
The deal states that the assessed valuation of the commercial property to be located at Lafayette and Evans Roads, just south of City Hall, won't fall below $700,000. No other incentives were offered by city officials, Mayor Doug Faas said.
"I think it's a super deal for our city," Faas stated. "I'm looking forward to it. I think the project will start business growth in the city."
The site where Dollar Tree plans to build was purchased by Evansdale in the summer of 2017. The city tore down two 40-year-old buildings -- one was a former a gas station and the other, most recently, housed a pawn shop -- and cleared the property in hopes of attracting new business.
According to Faas, the new Dollar Tree will generate about $21,500 in annual tax revenue for the city.
Under terms of the agreement, One Site Development has one year to begin the project after acquiring the property. The transaction is expected to close on March 15, 2019.
Faas said he expects construction to begin soon after the agreement is finalized. Once complete, the Evansdale Dollar Tree will be similar to the company's other stores that recently opened in Waverly and at the intersection of La Porte Road and Hawthorne Ave. in Waterloo.
Headquartered in Chesapeake, Va., Dollar Tree operates more than 14,800 stores throughout the 48 contiguous U.S. states and Canada.