Title
A Resolution to Grant a Tax Abatement to Blessed Kettle Brewing Company, LLC
Body
WHEREAS, Blessed Kettle Brewing Company, LLC is proposing to build and operate a beverage/alcohol/beer manufacturing facility located at 224 E. Laurel Avenue, Foley, Alabama and within the jurisdiction of the Granting Authority; and
WHEREAS, pursuant to the Tax Incentive Reform Act of 1992 (Section 40-9B-1 et seg., Code of Alabama 1975) (the Act) Blessed Kettle Brewing Company, LLC 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 Blessed Kettle Brewing Company, LLC 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 $ 1,970,000.00 by Blessed Kettle Brewing Company, LLC; 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 Company that it has power under that constitution and laws of the State of Alabama (including p...
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