It was in April that Gadsden citizens learned that a grocery store would be set up on Gadsden Mall, in part of what was once Sears’ location.
Little else has been heard about the store from that time until now. The grand opening of the mall’s new and exclusive business is scheduled for 10 a. m. Friday, according to Food City media.
K-V-A-T is a supermarket chain founded in Virginia. La nearest Food City store is in Albertville, where the store opened a few years ago in the old Kmart on US Highway 431 and Alabama Highway 75.
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In April, the Gadsden City Council approved a monetary incentive for the store: a 2% reduction in sales tax over the next 15 years or $6. 7 million in tax revenue, whichever comes first.
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The allocation represents an investment of $14 million, and Stephen D. Spangler, Food City’s vice president of real estate and site progress, told board members in April that without the incentives, the chain would not be able to complete the allocation.