This blog includes news about City Hall, city schools and other 22401 news.Pamela Gould reports on City Hall. You can reach her at 540-735-1972 or firstname.lastname@example.org. Robyn Sidersky reports on city schools. You can reach her at 540-374-5413 or email@example.com.
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Big Sunday outing
I’ve been away for the past week, but yesterday, after getting back to town, I decided to visit the Wegmans parking lot. Upon arriving at the parking lot, I realized that actually setting foot inside the store would need to wait until four police cars were no longer required to contain the crowds. Overflow parking was nearly filling the Expo Center parking lot, which I could see after I spent 15 minutes trying to get out of the Wegmans parking lot. I even saw a few people walking to the store from Central Park. After all this excitement, I went to Giant because I needed to do some grocery shopping.
With all that activity in the parking lot, though, you’d think Wegmans would be well on its way to hitting the sales threshold it needs to collect its annual share of the 10-year tax incentive package Fredericksburg approved to lure the mega-grocer here. Here‘s a story from August 2007, when that package was approved. If you need a refresher, here’s the basic explanation of the deal:
The city has offered to waive $1.7 million of the grocer’s business license taxes over a 10-year period. To start taking advantage of that waiver, Wegman’s must generate at least $300,000 in tax revenue, so the city would get at least $130,000 in new money.
Wegman’s predicts its Fredericksburg store will generate $60 million in annual sales. That would bring $600,000 a year to the city in business license taxes.