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Claremont approves incentive agreement with new store

October 4, 2011

Claremont’s newest business is getting some help from the city and producing jobs in return.

Claremont officials approved an economic development agreement on Monday between the city and the recently opened Claremont Hardware and Farm Supply.

The agreement calls for the business to create and retain at least 10 jobs and build improvements to the facility at 4860 S. Depot St. in Claremont. In return, the hardware store will get tax deferment incentives over five years and a streetscape enhancement grant.

Claremont officials say the new business is a critical part of downtown Claremont. They say the new business will not only provide the city with much-needed jobs, but also provide tax revenue in the means of sales tax and expanded property tax base, according to city documents.

“This family-owned business has come to Claremont with the ambitious hopes to not only promote a business, but also, in my opinion, resurrect the city as a hardware construction manufacturer,” said Claremont Mayor David Morrow. “It just shows good faith on the city’s behalf to support a business such as that.”

The agreement calls for the creation of at least 10 new jobs and a continued investment of at least $350,000 for the next five years. The city will refund 50 percent of the taxes paid and make a one-time $5,000 street scape enhancement payment for up-fit costs to the building’s exterior, including new paint and stonework, according to the agreement.

Claremont also approved a city-initiated request to re-zone a piece of property adjacent to Claremont Hardware and Farm Supply that allows the store to have an outdoor storage area for larger items like mulch, said Claremont City Manager Doug Barrick.

The family of Christy, Kemp, Parker and Tyler Sigmon opened Claremont Hardware and Farm Supply on Claremont Day, Oct. 1. It is a facility renovation of the former Claremont Wholesale building.

The store will house general hardware equipment at first, and eventually, the Sigmons plan on selling mulch, rock and topsoil in addition to feed for livestock and horses. There will also be a gift section and a place for customers to sit around and chit-chat as well, Christy said.

City leaders also discussed and voted to establish a memorial scholarship fund for former city council member James “PJ” Stanley. The details of the scholarship fund are being developed, but Barrick said the intent is to gear it toward area high school students rising into law enforcement or emergency services fields.

Comments

Tax Dollars going to Business Owners!

October 5, 2011 by Backbone (not verified), 2 years 40 weeks ago
Comment: 735

THis is just welfare by another name!

WILL IT EVER STOP!?

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