City Approves Larger Tax Break for Costco

By Chuck Sudo in News on Jan 19, 2011 1:35PM

Remember last month when City Council was considering giving retail giant Costco a $1 million tax break over the next 12 years to build a Costco in the Medical District at 14th and Ashland? The tax deal was approved, only the tax break is larger than projected.

Costco will be receiving a tax break of $2.5 million over the next 12 years. 2nd Ward Alderman Robert Fioretti has championed the Costco as a major job provider that will more than make up for the tax breaks.

Construction of the new Costco could begin in spring of next year.