Thanks to reader Erin Webber for sharing a detail about ATC that I thought would be a good idea to share. Above is an image of the projected Aquia Towne Center site pulled from a brochure from the Mosaic website. The brochure looks to be a bit dated as it states that the luxury apartments are due to be delivered in 2016 and of course, they are already there.
However, if you look closely, you will see that both Petco and Hair Cuttery are shown as tenants in the new ATC. I have placed an image of a dog and scissors above the two properties because the print is small and hard to read. I am curious if these two properties would be counted as part of the"new" revenue in the projections. As you may know, both businesses already operate on 610, Petco is at Doc Stone and Hair Cuttery is in Stafford Marketplace. Neither of these businesses should be included as "new" revenue to Stafford and should be excluded from the $40 million in new revenue over 30 years number that is being sold to residents.
Since this is an old brochure, it is possible that these tenants no longer plan to move or have already renewed leases in their current buildings. But it is important to remember that revenue that is "new" to ATC is not "new" to Stafford if businesses are simply moving from one location on 610 to another.
By the way, I love getting tips and details from readers, please keep it up! There is only so much one mom can do, I just can't catch everything.
UPDATE: According to new information revealed at the July 5th Board meeting, PetSmart is no longer planning a move to ATC. The Board has asked the Commissioner of the Revenue to come up with a plan to make sure than any businesses that DO move from another area strip mall to ATC are not counted as part of the new tax revenues if the ATC gets off the ground.