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Homewood committees send Samford-backed Creekside West plans to public hearings as developers outline $26 million tax-rebate request
Summary
Landmark Development and Samford representatives outlined a mixed-use Creekside West plan and a proposed 20-year tax-rebate framework capped at $26 million. Committees advanced rezoning and development-plan items to public hearings; separate finance review of incentive terms will follow.
City planning and finance committees on May 19 advanced the rezoning and development-plan packages for the proposed Creekside West mixed-use district — a Samford University–anchored project presented by Landmark Development — to public hearings, while saying the city will consider any tax-incentive request in a separate finance review.
Developers told committees the project would be built in phases over several years and that they are seeking a financing structure that would capture a portion of new lodging and sales taxes for up to 20 years, capped at $26,000,000. Bob Dunn of Landmark Development and Lynette Bridal, of the Landmark team, described a project that includes mixed-use housing, retail and a hotel, and estimated roughly $104,000,000 in infrastructure costs associated with the site.
Why it matters: The development would change land use along Lakeshore Drive and, according to the developer’s consultants, generate substantial new tax revenue for the city and Homewood City Schools.…
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