A new Dollar General will bring at least a $1 million investment in the Kernville neighborhood and create eight jobs or more under requirements of an agreement to sell property to the store developer.
The Johnstown Redevelopment Authority board approved the sale of about three-fourths of an acre at South and Napoleon streets for $75,000.
The buyer, Franklin Land Associates LLC, is associated with Dollar General Corp.
The authority assembled the property with a land swap with Greater Johnstown Water Authority approved in January. The redevelopment authority bought one vacant Napoleon Street lot from the water authority for $13,309, along with the deed for another non-adjacent lot that the water authority wanted.
Merging the former water authority property with two other parcels created the new store’s property.
Redevelopment authority Chairman Raymond Balta asked what requirements are in place to assure the property will be developed as promised.
“There is a restriction on the land (title) until they can prove they have employed eight people and have invested $1 million,” Solicitor William G. Barbin said.
The company has a financial incentive to remove the restriction by meeting its requirements, Barbin noted.
“It messes up their bank financing,” he said.
Randy Griffith is a reporter for The Tribune-Democrat. Follow him on Twitter at twitter.com/