Title
A Resolution To Modify Resolution 13-0491 B Approving A One Percent User Fee For A National Big Box Retailer
Summary
DESCRIPTION OF TOPIC: (who, what, when, where, why, and how much)
A Resolution To Modify Resolution 13-0491 B Approving A One Percent User Fee For A National Big Box Retailer
Body
WHEREAS, a National "big box" retailer wants to locate on Highway 59 south of Lowe's, and
WHEREAS, under enabling Resolution 13-0491 B, Council approved their request of a one percent user fee from the Cooperative District to help with site work and infrastructure with a 20/80 split where the City would retain 20% of the fee for infrastructure , and
WHEREAS, the National "big box" retailer is requesting an increase of the commitment in the amount of $200,000 the City is willing to fund for the infrastructure improvements, and
WHEREAS, they are requesting the City to authorize the funding to occur at the point of construction as opposed to the establishment opening for business, and
WHEREAS, they are requesting the City to modify the user fee to a 70/30 split as opposed to the 20/80 split.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Approves the $200,000 increase in the commitment amount the City is willing to fund towards the infrastructure improvements for the big box retailer for a total of $1.2 million.
SECTION 2: Authorizes the funding to occur at the point of construction as opposed to the establishment opening for business.
SECTION 3: Approves modifying the original user fee split of 20/80 to a 70/30 user fee split. The thirty percent (30%) will be used on infrastructure.
SECTION 4: The developer will guarantee the City's contribution at the point of construction.
SECTION 5: This Resolution shall become effective immediately upon its adoption as required by law.