HAZELWOOD • The Hazelwood City Council has moved forward on the first two buildings of the planned Hazelwood TradePort business park north of the Hazelwood Outlet Mall.
The council on Wednesday held the first reading of bills to issue industrial revenue bonds for one building costing up to $17.5 million and another costing up to $34 million. The council is expected to take final action at its June 6 meeting.
The two buildings together would have nearly 750,000 square feet. There could be as many as seven or eight more buildings in the development, Hazelwood Economic Developer David Cox said.
The city would issue the bonds and lease the buildings to as tax abated and with an exemption on the sales tax for construction material. NorthPoint will pay 1 percent of the required taxes the first year and gradually work its way up to 100 percent in the 18th year. After that, NorthPoint would own the buildings.
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NorthPoint is finishing up its previous project, the 165-acre Hazelwood Logistics Center at Fee Fee Road and Hazelwood Logistics Center Drive.
