By NICK BUDD
Hays Post
If you fix it, they will come? That’s what mall developers are saying about national retailers who they say are targeting Hays for potential expansion.
In recent weeks, representatives from DP Management, the management group for the Hays Mall, have been in talks with the Hays City Commission regarding a proposed community improvement district on the mall property.
If approved, the CID would add a 1 percent sales tax on sales generated at the mall, with the the income would be used for facility upgrades. Proposed improvements include renovations to the interior, entrances, landscaping and parking lots. Mall developers also plan to demolish the bank drive-through and the former Montana Mike’s Building.
Though he is unable to identify specific retailers, project manager Josh Vickery told Hays Post he is confident that, if those renovations occur, more national chains will come to the location.
“We’ve had several chains that have indicated strong interest if the mall was redeveloped,” Vickery said. “If you go in there right now, the lighting is outdated and dark the floors are old, and it’s just not very appealing to a lot of the national chains that want some upgrades and new features.”
According to Vickery, some chains already have signed a letter of intent, which isn’t legally binding but does outline the rent structure and other details. Those letters, however, are contingent upon whether the redevelopment plan is approved. DP was unable to identify the businesses that have shown interest due to legal reasons.
“We’re very confident that there are several national tenants that would be very interested if the project was completed,” Vickery said.
Commissioners and residents have voiced concerns about the proposed plan, noting several other businesses have reinvested their own money into their operations. Vickery noted the current ownership group acquired the mall in its current state in 2005 and that ongoing maintenance issues have been identified as part of the redevelopment plan.
“(The CID) can find out whether the owner can justify further investment by identifying a reasonable likelihood of a return on that investment,” Vickery said. “The passage of the CID is no guarantee that the owners would be repaid, it is just an opportunity to recapture the investment over time, if they manage the facility well enough to get people to patronize them.”
Vickery also noted that the CID is very “discretionary,” stressing the additional 1 percent sales tax only would apply to those who shop at the mall.
“If consumers aren’t in favor of the tax, they may choose to exercise their displeasure by patronizing other establishments,” he said.
The Hays City Commission voted 3-2 last month to schedule an Oct. 23 public hearing on the proposed CID.
Check Hays Post for more as details become available.
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