Councilwoman: Sears Tower project not included in budget - Action News 5 - Memphis, Tennessee

Councilwoman: Sears Tower project not included in budget

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The Sears Crosstown development team won a 20-year payment in lieu of taxes agreement from the center city revenue finance corporation Thursday. The Sears Crosstown development team won a 20-year payment in lieu of taxes agreement from the center city revenue finance corporation Thursday.

(WMC-TV) - As the Crosstown project promises jobs and revitalization, there is one big hurdle standing in the way to begin construction in the area.

"We need the mayor, the CEO of the city of Memphis, to tell us how do you plan in putting back what we are allowing to go out," said Memphis city council member Wanda Halbert.

Halbert says several major businesses get tax breaks through the PILOT program. She has a problem with the high costs of these projects. Plus she says the Sears Tower project was not included in the budget.

"The city is three-fourth of the county. Why would you not ask the county for the $15 million and Memphis for any extras that you're looking for so it appears that Memphis would be supporting the entire project," said Halbert.

The Sears Crosstown development team won a 20-year payment in lieu of taxes agreement from the center city revenue finance corporation Thursday.

Glitter & Glamour clothing store owner, Henry Zadeh, is excited by the buzz around the revitalization of the defunct Sears Crosstown building.

"I'm glad it's finally happening, because they were talking about it, and there was no action," said Zadeh.

Zadeh has been serving customers in Crosstown for more than 25 years.

"We were here when there was a lot of activities, but for maybe about 15 or 20 years there wasn't any. Now, it's coming back again," he said.

Even with the arguments over the project, Zadeh says he wants to see the community come back to life.

"It's been long forgotten over here and I hope the city compromise on some of the issues they have," he said.

The Shelby County Land Use Control Board voted to approve the planned redevelopment of the abandoned Sears Crosstown building into a "vertical urban village" Thursday, according to Action News 5's partner the Memphis Flyer. The flyer reports it will be home to the Church Health Center, Gestalt Community Schools, Methodist Healthcare, and other medical, office, retail, and residential uses.

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