Target Wants $5M To Build New Store In Denver

DENVER (CBS4)- Target wants $5 million before it goes ahead with plans to build another store in Denver.

The new store would be located in the Tamarac Square site near Tamarac and Hampden in southeast Denver.

A spokeswoman for the Denver Urban Renewal Authority told CBS4 that Target needs the money for the project, otherwise it will abandon the site.

The money would be used to cover additional costs for the infrastructure improvements that are needed in the area.

Under a current proposal, sales tax collected from the store over 10 years would be used to fund the project.

"Instead of those monies being paid over to the City and County of Denver, they're paid over to the Urban Renewal Authority and then we use those monies to reimburse Target, in this instance, for the site improvements that they are going to make as the store goes forward," said Denver Urban Renewal Authority Tracy Huggins.

The City of Denver will now decide whether to give Target the money for the project.