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The Economic Development Corporation unanimously approved up to $2 million in infrastructure support and a 10-year sales-tax rebate agreement for Cadance Development Partners’ Project Capstone. The project team said Academy, Ross, Burlington, and Five Below are leased, with groundbreaking hoped for in June and store spaces expected to be delivered in September 2027 if construction proceeds without major delays.
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The approved agreements provide financial incentives intended to help bring a large retail development to Orange. The sales-tax agreement would rebate 33% of the 1.5% sales tax collected for the EDC portion at the project site, equal to 0.5%, for 10 years. The agreements may still be amended after review.
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