American Furniture Warehouse gets preliminary OK on $2M tax break
Maria Weiskott -- Furniture Today, February 12, 2013
GILBERT, Ariz. — The town council here has given preliminary approval to as much as $2 million in tax incentives for the planned American Furniture Warehouse store, The Arizona Republic reported.
The "notice of intent" to proceed with the tax incentives is a precursor to approving the deal, which would pay back the Englewood, Colo.-based Top 100 company for improvements to roads adjacent to the 41-acre store site, the report said.
AFW CEO Jake Jabs has said he has acquired 73 acres for a 150,000-square-foot store and 400,000-square-foot distribution center expected to open in September. It's the first of two stores and distribution complexes he's planning for the greater Phoenix market.
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