Nevada County supervisors approve reimbursement deal with Higgins Marketplace developer
January 23, 2018
The developer for the Higgins Marketplace project said Tuesday he'd like restaurants and service businesses to fill three outlying buildings at the South County site.
Fred Katz said Holiday Market would serve as the anchor for the 73,650-square-foot project. The grocery store would fill the largest of four buildings on the Highway 49 site, just south of Combie Road.
A second building could hold six businesses, potentially having a hamburger shop and hair salon. A third building could hold a single tenant.
"One building is reserved for a sit-down restaurant," Katz said of the last structure.
President of Roseville-based Katz Kirkpatrick Properties, Katz emphasized that his proposed tenants are possibilities only. He said his tenant recruitment efforts start today.
The project, started in 2004, scored a large win with a Tuesday vote by the Nevada County Board of Supervisors, which unanimously approved an infrastructure reimbursement agreement between the county and developer.
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The agreement calls for a construction timeline that, if met, would mean the developer doesn't have to pay $1.4 million in infrastructure improvement costs. It still would pay $1.2 million in sewer and traffic fees.
Failure to meet construction deadlines would cause the developer to pay a portion of the costs.
"If he produces, he saves," Supervisor Hank Weston said. "And if he doesn't produce, he pays. I'm OK with that."
The county intends to fund the infrastructure project — widening portions of Combie Road, traffic signal improvements and sewer work — with its economic development infrastructure fund, which is filled by proceeds from the transient occupancy tax.
Trisha Tillotson, the county's Public Works director, said the cost of adding sewer could prove prohibitive to the developer.
"It is to incentivize, but also to make it possible," she said of the agreement.
The first building, slated for the grocery store, is scheduled for a November 2019 completion. The final buildings would be complete by January 2021.
To contact Staff Writer Alan Riquelmy, email email@example.com or call 530-477-4239.