Lafayette

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Lafayette

COUNCIL CONSIDERS BONDING FOR CENTER REDEVELOPMENT

City Council, acting as the Urban Renewal Authority, decided to consider using tax revenue to fund bonds that would be used to finance construction of a 3-acre public park on the 17-acre WalMart site that was also the former location of Albertsons. WalMart will close the location when its new SuperCenter on US 287 north of Baseline Rd is completed later this year. The park would be strong amenity on the former shopping center parcel that may help to encourage (re)developers to come forward. City plans for the redevelopment include civic, retail, commercial and residential uses. Bonding for the $1 million park construction does not need to go to voters. Council is expected to decide whether to bond for the funds later this year.