With a vote looming on a proposed sales tax to fund construction of a new Interstate 70 interchange, the Warrenton Board of Aldermen approved hiring a developer to assist in bringing businesses to a …
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With a vote looming on a proposed sales tax to fund construction of a new Interstate 70 interchange, the Warrenton Board of Aldermen approved hiring a developer to assist in bringing businesses to a nearby property.The board unanimously approved an agreement with RAK Development LLC, which is contingent on the passage of the interchange tax. The agreement seeks to redevelop and attract businesses to the beleaguered Warrenton Outlet Center.“The passage of the sales tax is the biggest thing to happen to Warrenton in a long time,” Alderman Gary Auch said.In June, the board unanimously approved an ordinance placing two half-cent sales taxes on the Aug. 2 ballot. The first tax would fund construction of a new Interstate 70 interchange west of Warrenton, between mile markers 190 and 191.The first tax would expire once the city has paid the debt from construction of the proposed interchange.The second half-cent tax would continue after construction is finished and remain in effect for two years, expiring when the city generates enough revenue from the ensuing economic development to replace the tax.After approving placing the taxes on the ballot, Auch said westward expansion is critical for the growth of Warrenton and eastern expansion posed too many hurdles.“When you initially look at this proposition, and a number of people do, they go ‘well it’s more logical to go with an eastern interchange,’ ” Auch said in June. “When you dig into the details, you realize the number of hurdles it would take to do a project to the east. It’s problematic.”Auch’s stance on the I-70 interchange has not changed since June and he said approval of the agreement will allow voters to see a more focused vision of the potential for future expansion.“It certainly clarifies the project for voters,” Auch said. “We have a developer putting stake in the game.”Along with approving an agreement with RAK, the board also approved creating a tax increment finance commission with the hopes of one day creating a tax increment finance district around the proposed interchange.City of Warrenton
