Title
A Resolution of the Foley Industrial Development Board Granting a Tax Abatement to Dunamis Medical, LLC, USS Innovations, LLC, and Related Entities
Body
WHEREAS, this Resolution is made this 14th day of May 2026 by the Foley Industrial Development Board (the Granting Authority), to grant a tax abatement to Dunamis Medical, LLC (Holding Entity), (Operating Entity) & USS Innovations, LLC (Land Holding Entity); and
WHEREAS, the Company has announced plans for a new project of the Granting Authority; and
WHEREAS, pursuant to the Tax Incentive Reform Act of 1992 (Section 40-9B-1 et seq., Code of Alabama 1975) (the Act) the Company has requested from the Granting Authority an Abatement of all state and local noneducational property taxes, all construction related transaction taxes, except those local construction related transaction taxes levied for educational purposes or for capital improvements for education; and
WHEREAS, the Company has requested that the abatement of state and local noneducational property taxes (if applicable) be extended for a period of 10 years, in accordance with the Act; and
WHEREAS, the Granting Authority has considered the request of the Company and the completed applications (copy attached) filed with the Granting Authority by the Company, in connection with its request; and
WHEREAS, the Granting Authority has found the information contained in the Company’s application to be sufficient to permit the Granting Authority to make a reasonable cost/benefit analysis of the proposed project and to determine the economic benefits to the community; and
WHEREAS, the construction of the project will involve a capital investment of $13,715,000; and
WHEREAS, the Company is duly qualified to do business in the State of Alabama, and has powers to enter into, and to perform and observe the agreements and covenants on its part contained in the Tax Abatement Agreement; and
WHEREAS, the Granting Authority represents and warrants to the Comp...
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