An infrastructure deal that could help the city woo Costco was approved this week by the Murrieta City Council.
“Yeah,” enthused Mayor Jonathan Ingram following the unanimous vote. “Let’s get Costco.”
The deal calls for the city to cover a portion of the costs associated with building an access road for a shopping center planned for land at the northeast corner of the I-215, Clinton Keith Road interchange, acreage across the street from Vista Murrieta High School.
The city’s share of the road could end up totaling around $1.6 million, a funding cocktail that could include some developer impact fee credits, general fund dollars or reprogrammed capital improvement project funds.
“Sometimes you spend money to make money,” said Councilman Kelly Seyarto during Tuesday’s meeting. “That’s why we’re considering this tonight.”
At its next meeting on Feb. 20, the council may take up a second infrastructure deal related to the project, which the city is pursuing due to the amount of sales tax revenue a Costco warehouse generates.
“We are looking forward to an application in the coming month,” said City Planner Cynthia Kinser in an email. “As to opening dates and other details, as with all development projects, there are several moving parts as plans are prepared. As a result, schedules haven’t been mapped out yet, but will be done very soon.”
A Costco spokesman said earlier this month that the Issaquah, Wash.-based retailer, which merged with San Diego’s Price Club in 1993, doesn’t comment on future warehouses until it updates its website with news of a pending opening.
Councilman Rick Gibbs said that if the city ends up getting a Costco credit should be directed to the city’s former economic development director, who left last year for a job in Texas.
“Thank you Bruce Coleman,” he said.