Title
A Resolution to Approve an Extension of the Project Completion Date for the Tax Abatement Granted to Blessed Kettle Brewing Company, LLC
Body
WHEREAS, the Industrial Development Board of the City of Foley, Alabama (the “Granting Authority”) previously approved a tax abatement for Blessed Kettle Brewing Company, LLC pursuant to the Tax Incentive Reform Act of 1992, Section 40-9B-1 et seq., Code of Alabama 1975 (the “Act”), for the construction and operation of a beverage/alcohol/beer manufacturing facility located at 224 E. Laurel Avenue, Foley, Alabama; and
WHEREAS, the original Tax Abatement Agreement was executed on January 30, 2025, and the project completion date was previously extended to June 30, 2026; and
WHEREAS, by correspondence dated May 14, 2026, the Company requested an additional extension of the construction completion date due to unforeseen delays affecting the completion of the project; and
WHEREAS, the Company has requested that the project completion date under the existing Tax Abatement Agreement be extended from June 30, 2026, to June 30, 2027; and
WHEREAS, the Granting Authority has reviewed the request and determined that granting the extension is necessary and appropriate to allow for the successful completion of the project and the fulfillment of the original commitments regarding job creation and capital investment; and
WHEREAS, the Granting Authority finds that the continued development of the project will promote trade, commerce, industry, and economic development within the City of Foley and surrounding community;
NOW, THEREFORE, BE IT RESOLVED by the Industrial Development Board of the City of Foley, Alabama, as follows:
SECTION 1: The request of Blessed Kettle Brewing Company, LLC for an extension of the project completion date contained in the existing Tax Abatement Agreement is hereby approved.
SECTION 2: The project completion date under the Tax Abatement Agreement is hereby extended from June 30, 2026, to June 30, 2027.
SECTION 3: The Chairman, Secretary, and other appropriate officers of the Granting Authority are hereby authorized and directed to execute any amendments or related documents necessary to effectuate the extension approved herein.
SECTION 4: A certified copy of this Resolution and any related amendment to the Tax Abatement Agreement shall be forwarded to the Alabama Department of Revenue and all other appropriate parties in accordance with the Act.
SECTION 5: The governing body of the Granting Authority is authorized to take any and all actions necessary or desirable to accomplish the purposes of this Resolution.
SECTION 6: This Resolution shall become effective immediately upon its adoption as required by law.