An agreement between Triview Metro District and Costco could generate millions in sales tax, but land acquisition and Monument development approvals still apply.

As it stands, Costco has not submitted an official application to develop a warehouse location in Monument .

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The Triview Metropolitan District Board of Directors unanimously approved offering Costco Wholesale Corp. a potential $15 million in sales tax incentives over 12 years during an Oct. 22 special meeting at its headquarters in Monument, marking a significant attraction for a possible warehouse location in the town.

The economic development incentive agreement between the district and the corporation is contingent on Costco completing its purchase of the proposed property and obtaining the necessary development approvals from the Town of Monument.

Triview General Manager Jim McGrady confirmed Friday that the agreement would allow Costco and the district to share certain sales tax revenues generated by the retailer over a…