Metro Council to vote on Costco deal
BATON ROUGE - Costco Wholesale could open in Baton Rouge in a year if the Metro Council approves the creation of an economic development district Wednesday to pay for infrastructure improvements in the area.
The superstore is planning a $38 million capital investment into its 150,000-square-foot warehouse on Dawnadele Avenue at the former Coca-Cola bottling facility.
The city-parish and Costco have negotiated the creation of the Dawnadele Economic Development District, which would rebate $7 million of local sales taxes, plus interest, back to Costco to pay for infrastructure improvements and demolition costs.
William Daniel, chief administrative officer for Mayor-President Kip Holden, said the projects should be paid off in less than four years at an interest rate of 4.5 percent.
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