Dalton to issue $4.5 million in bonds for large retail development

Dalton leaders have agreed to issue $4.5 million in tax-free bonds to buy land and upgrade roads to make way for a retail development on Shugart Road.

Officials with the Dalton-Whitfield County Joint Development Authority won't identify the specific retailer, but they say it will be an upscale general merchandise store flanked by other, smaller retail stores and restaurants.

Walmart and Home Depot operate stores just blocks from the 12.5-acre site, said Alex Stall, a project manager for the development authority.

Residents have long sought a Target department store, but Stall wouldn't identify the store.

If the deal is complete, the anchor store could open by next fall and the smaller retailers and restaurants could come online by Spring 2012, Stall said.

The developer is responsible for repaying the bonds, officials said.

For complete details, see tomorrow's Chattanooga Times Free Press.

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