The Lee’s Summit City Council on April 4 unanimously approved a development agreement for a Wal-Mart Supercenter near Missouri 150 and Missouri 291.
By accepting the agreement, the council finished the final step necessary to allow construction of the Supercenter.
Council member Brian Whitley said that while he’d earlier voted against rezoning for the proposed Supercenter, he was voting for the agreement because it provides for a road that could help alleviate traffic.
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. 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, cutter and sidewalk, extend left turn lanes at Market and Missouri 150 and traffic signals.