The incentive package passed 7-2 with council members Al Lindsey and Stephanie Brinkerhoff-Riley voting "no."
Developers want to build a large Schnucks grocery store on the Washington Square Mall property.
The Growth Alliance for Greater Evansville expects the investment to have a $20 million impact over the next three years.
Had the tax phase in failed to pass, the property owner says he would have continued to do necessary upgrades on the property but wouldn't have continued with the proposed development project.
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