A brownfield designation for a planned Walmart Supercenter in Largo could be worth at least $375,000 in tax incentives for the retail giant.
The name change also would clear the way for the latest Walmart at 2677 Roosevelt Blvd. at the former Crossroads Mall.
City leaders will vote to designate a portion of the former Crossroads Mall a brownfields site, meaning it is an abandoned, idle or underused commercial property, in an effort to offer incentives for a planned 120,851-square-foot Walmart Supercenter.
The designation allows Walmart to request financial and regulatory incentives provided including site assessment and technical assistance, tax incentives and a $2,500 state tax credit for each job created.
The facility would create about 150 new full-time positions. The average wage would be $20,000 as well as appropriate benefits. That is less than half the average wage of employees in Pinellas County, according to city documents.
“If granted the brownfield designation, Walmart intends to apply to the State of Florida for the Job Creation Tax Credit for the new fulltime jobs that will be created by the development. They also do not intend to request a local match,” according to city documents.
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Under Florida law, Largo can recommend Walmart for the incentive without providing the local match of 20 percent. Local government agencies can be exempt from providing the match for projects within a designated brownfield area.
The Walmart Supercenter, a 342-unit Gateway North Apartment Complex and a Pinellas Suncoast Transit Authority (PSTA) Bus Transfer Station are planned for the approximately 38-acre parcel. The property is near the intersection of U.S. 19 and Roosevelt Boulevard.
A 3,880-square-foot McDonald’s restaurant already is open at the entrance of the former mall’s access road.