The Rome Redevelopment Committee met this week to discuss the future of the former Kmart property on Turner McCall and Hicks Drive. The property is currently under contact with R.H. Ledbetter Properties LCC.
The nearly 20 acres has plans to be transformed into a mixed shopping center that will feature both restaurants and retail shops.
A 15 year TAD (Tax Allocation District) was approved for developers. The move will allow developers to use funds that are normally given to municipalities for taxes to be used to develop and maintain the property.
The move is done so municipalities can get tax funds though sales at the new businesses.
The proposal will now go to the Georgia Department of Revenue.
The new development is expected to create 400 plus jobs and generate $2million in sales tax per year.
Construction is expected to begin this summer.
Developers did not speak on specifics of stores or restaurants that are looking at coming to Rome.