"Kernersville approved Triad Business Park, a multi-use development -- and $3 million in incentives for its developer -- Tuesday night.
Tax reimbursements for the property would not kick in until the developer spends at least $3 million dollars on the project.
TDO Land Holding LLC won approval from the board of aldermen to develop 327 acres north of Business Interstate 40 and west of Bunker Hill Road, across the road from Triad Park...
The board agreed to reimburse TDO a portion of the property taxes collected on the property for up to 20 years or $2.35 million, whichever occurs first. Another $650,000 will be given to High Point to extend its sewer system to a point just north of Business Interstate 40.
High Point will continue to receive sewer revenue from the system.
Winston-Salem Forsyth County Utilities Commission will provide water service and receive revenue from the water system.
...The uses that will be allowed in the business industrial zoning include manufacturing, distribution and office. The zoning also allows commercial services to serve the work force, including restaurants, child care, dry cleaners and barbers. Retail services are limited to 30 percent of the district and 60,000 square feet. This helps prevent "big box" stores from locating in the business park and ensures that the park will primarily house offices, manufacturing, distribution or other related industrial uses.
The developer has to meet design standards.
...The board unanimously approved an amendment to the town's unified development ordinance that creates a business industrial section, a rezoning request to change the property to business industrial, an agreement between TDO Land Holding and the town and a subdivision request."