ALTON - Alton Committee of the Whole members voted 6-1 to approve an $8.1 million redevelopment agreement for “Alton Circle Plaza,” also known as the newly-established Route 3 and Buckmaster Business District . The city has agreed to partially reimburse the developer for the large-scale, long-term project. The developer, Missouri-based Valcour Development Company, proposes a total of $8,105,725 worth of various interior and exterior improvements and associated costs “in an attempt to substantially enhance the economic viability of the shopping center and the businesses located in the vicinity thereof,” according to the resolution to approve the agreement. Some of the proposed improvements and their associated costs are as follows: “Landlord work”: $2,565,000 Building facade improvements: $1,375,000 New roof measuring 76,000 square feet: $1,140,000 The City of Alton has agreed to reimburse Valcour for up to 50% of approved redevelopment
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