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Magnolia tables $1 million expansion request at Waco Tax Increment Financing Board meeting

A Magnolia representative said they still plan to complete the construction by the year's end but decided to postpone the application.

WACO, Texas — The city of Waco's Tax Increment Financing Board met Thursday morning to discuss Magnolia's request for more than $1 million for their master plan project. 

Magnolia representative John Marsicano said the company elected to "temporarily postpone" the application while they work out project details.

"Given the size and scope, we felt it made sense to hold off on the application for right now," Marsicano said. "This doesn't impact the master plan project or its timeline.

Marsicano said the company still plans to complete all of the construction by the end of the year.

The Magnolia Masterplan Project will be near the Magnolia Market between Webster Ave., Jackson Ave., and 6th St.

The expansion will include a coffee shop, home furniture store and a retail village. It also plans to include a repurposed church building, outdoor walkways and well as a recreation and reflection space.

The TIF Board scheduled the meeting for 10 a.m. before a tour of the site at 12 p.m.