City leaders will decide on Tuesday whether H&M should be paid around $1.5 million so the store can terminate their lease early in anticipation of the MacArthur Center’s June 30 closure.
The fast fashion store is among the handful of businesses still operating in the MacArthur Center Mall. The current Norfolk council agenda indicates that the city owes H&M an early termination fee.
H&M’s current lease included renewal options through 2043, according to a resolution in the city council’s agenda. The proposed resolution, if passed, would reschedule H&M’s lease termination date to Sept. 30, 2026…