Wal-Mart Stores Inc. reached an agreement with Lee’s Summit for financing a north-south road to serve its Supercenter to be built in the south end of the city.
The agreement is scheduled for a vote by the City Council April 4. That would complete votes necessary to allow construction of the controversial store.
Some residents in the area opposed the store because of the traffic on Market Street at Missouri 150 and questioned whether the big box store was an appropriate project for the corridor. A small group of residents has also initiated a recall effort against Councilman Rob Binney for his vote in favor of the development project.
The road would be 400 to 500 feet west of Market Street with a right-in/right out access at Missouri 150, extending to the Supercenter and connecting with Summit Crest Drive.
The road is part of improvements council members wanted to lessen impact of traffic to the store at 3410 SW Market St.
Under the agreement, Wal-Mart will pay for the costs of the road upfront, but be reimbursed for part of the estimated $500,000 construction costs.
Wal-Mart would pay $200,000 for its share of the road, plus right of way is being donated. The city plans to create a “transportation impact fee” on future development to pay for the city share of the project.
Wal-Mart will be reimbursed no more than $300,000 or 60 percent of construction costs, whichever is lower.
Reimbursement will be based on general and transportation sales tax and the maximum annual amount isn’t to exceed 40 percent of news sales tax, limited to $100,000 and interest rate will be calculated at 3.5 percent per year.
Other improvements would reconstruct Market Street adjacent to the store to include left turn lanes, 14-foot-wide through lanes curb and cutter and sidewalk, extend left turn lanes at Market and Missouri 150 and traffic signals.