Representatives of Eight Points retail development announced plans Monday for six retailers, two restaurants, a hotel and gas station/restaurant to open by April 2018 at the Oak Grove Road complex.
The businesses were discussed with the Poplar Bluff City Council, which has been asked to approve the issuance of approximately $11 million in additional bonds for developers.
Academy Sports + Outdoors will open July 3, followed by Five Below in September, according to Jeff Otto, a partner in the Eight Points development.
Jimmy John's, Ross Dress for Less, PetSmart, Shoe Carnival and Dollar Tree are all expected to start operations in October, with a Rhode's 101/Imo's Pizza and Scotty's Brewhouse opening in December.
The last business to open, under current plans, will be a Fairfield Inn, with 80 rooms, Otto said. It is set to finish construction in March 2018.
"It's very exciting to come down here and see this state of construction after all of these years," Otto said.
It's encouraging to see things moving along, said city council member Ron Black.
The city council is expected to vote June 19 on the issuance of additional bonds, which will be marketed next week.
Approximately $16 million in tax increment refunding revenue bonds already have been issued for the project.
The city signed agreements in 2012 that stipulate payments from sales and property tax revenues for certain land acquisition, construction, professional fees and financing costs.
The Daily American Republic has asked for more detailed information regarding how much money is captured by the TIF and how the money is used.
Officials have said they are working to determine what information can be provided because state laws prevent the release of certain financial information when a limited number of retailers are involved.
Currently, only two businesses are operating within the Eight Points retail area, Wal-mart Neighborhood Market and Menards.
This is similar to transportation development districts. The state redacts certain financial information for any TDD that has less than seven retailers.
In April, the state auditor's office called for an overhaul of the TDD system for several reasons, including that the public pays a sales tax and is not allowed to see how much is collected or exactly how it is used.
A 2016 state TIF report said that reimbursable costs for the Eight Points project could be $35 million. The debt was originally expected to be retired in 23 years, but the current anticipated retirement, at the time of the report, was 19 years.
In other business, the council:
* Approved the discharge of fireworks by the Downtown Poplar Bluff group for a July 4th event.
* Discussed a five-year extension for a territorial agreement between Ozark Border Electric Cooperative and Municipal Utilities. The boundaries set by the agreement would remain the same, according to discussion. The current contract expires Aug. 22. This will be a voting matter at the June 19 council meeting.
* Discussed an agreement with the union representing water and sewer departments. This agreement would allow the International Brotherhood of Electrical Workers Local 702 to begin representing the department. Under the agreement, water and sewer employees would receive the same percentage raise as electric workers, when raises are given, said utility general manager Bill Bach. This is a voting item June 19.
* Discussed and voted on a resolution supporting an attempt to get a designation of future interstate miles for a highway corridor between Poplar Bluff, Dexter and Sikeston.
* Approved an ordinance which allows Mobilitie, LLC to erect a monopole tower behind CVS Pharmacy on North Westwood.
* Discussed a rezoning request for 704-708 Kinzer St., for a women's housing program to be operated by Recycling Grace Ministries. The property is RS-3 central area residential and the request is for RA-2 residential apartment. This will be a voting item June 19.
* Discussed a request to sell alcohol at 506 Vine St., formerly the Frontier restaurant. Applicant is Bronze Owl Brewing.