The Carson City Board of Supervisors agreed Thursday to reimburse $200,000 to the Regional Transportation Commission for funding improvements on roadways surrounding the future Wal-Mart on College Parkway.
Wal-Mart officials, its developers and Carson City signed an agreement in May, saying that the city will start road improvements in connection with the development of the supercenter.
According to the agreement, the Nevada Department of Transportation estimated the improvements will total $521,900. Carson City's share in this is 38 percent. Wal-Mart and its developers are covering the remaining cost. The improvements should be completed by November.
College Parkway at Hot Springs Road improvements and the estimated costs:
• An additional left-turn lane, $55,000
• Relocation of the south curb, $55,000
• Installing a traffic signal, $220,000
• Curb and gutter, $3,520
• Asphalt paving, $9,000
College Parkway at Roop Street improvements and the estimated costs:
• Restriping the intersection, $25,000
• Signal modification, $50,000
Andy Burnham, development services director, said the reimbursement will be made from the 2006 general fund. The $200,000 will be paid from sales tax generated by the Wal-Mart Supercenter within 12 months of its opening. The city is expected to generate $1 million a year in sales tax revenue from the retail giant.
Supervisor Robin Williamson asked if the city has made a deal like this before, or if this is setting a precedent.
Burnham said the city has invested funds into road improvements near Costco.
The supervisors agreed that cost-sharing agreements such as this one can be a strong incentive for developers.
"We hope honestly that this is not an end, but this is something the city can do to revitalize the economy," Mayor Marv Teixeira said. "We hope to do a lot more of this as we regain lost revenue."
The Wal-Mart Supercenter is scheduled to be completed in the summer.
Contact reporter Becky Bosshart at bbosshart@nevadaappeal.com or 881-1212.
