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Council extends tax-abatement start date for local bioplastics company
Summary
Gadsden approved a resolution extending the start date of a five-year tax abatement for Nat Bio Renewables Veil LLC (formerly Nat Bioplastics AL LLC) to accommodate construction delays.
The Gadsden City Council adopted a resolution extending the start date of a five-year tax abatement previously authorized by resolution R-115-22 for Nat Bio Renewables Veil LLC (formerly Nat Bioplastics AL LLC).
Council members said the company, an existing Gadsden business planning an expansion, experienced construction delays outside its control and requested more time to start the project. Council remarks described the business as a local employer and noted the expansion had been delayed; as a result the council extended the allowable start date by one additional year to April 26 (the meeting record did not specify the year).
The council adopted the resolution by voice vote. The meeting record did not include specific performance conditions tied to the abatement extension, dollar amounts of tax benefits, or an updated timeline beyond the adjusted start date noted on the record.
