"Orem city told residents
concerned about those incentives that throughout a 25-year period of time the
city would recoup $33 million in sales tax. Nordstrom has been at the mall just
10 years," consequently Orem can now save $975,000 annually paid to Woodbury. Herald Extra.com
"Getting Nordstrom into Orem did not come easily. From the earliest negotiations city leaders worked up a frenzy trying get these stores here and to keep ZCMI from leaving to go to the new Provo mall.
The city voted to give $2
million worth of property to the Woodbury Corporation for getting the store.
The city also agreed to pay Woodbury $975,000 a year for the next 20 years from
the excess sales tax revenue generated by the mall."
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