Merriam Development News

Mariam Town Center Redevelopment Approved with Development Agreement, CID, and IRB Financing

The council approved a development agreement, a community improvement district (CID), and industrial revenue bonds (IRBs) for the Mariam Town Center, a public-private partnership aimed at redeveloping the area. The agreement includes multiple projects such as a grocery store, circulation improvements, facade updates, new out-parcels, and EV charging stations. The CID will be funded by a 1% sales tax, excluding the grocery store, and the IRBs will provide a sales tax exemption on construction materials. The project's total estimated cost is $32 million, with approximately $25 million in developer costs and $7 million to be reimbursed from the CID. The city also established an economic development fund for administrative fees and approved the 2027 proposed budget, including a mill levy increase to maintain services and fund projects.