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MEDC authorizes Chapter 380 incentive agreement with BCS Capital
Summary
The Montgomery Economic Development Corporation voted to authorize its president to sign a Chapter 380 economic development incentive agreement with BCS Capital. Board members debated the costs and timeline for reimbursement and the potential delay in city tax revenue.
The Montgomery Economic Development Corporation on Sept. 16 authorized its president to sign a Chapter 380 economic development incentive agreement with BCS Capital, approving reimbursement of certain infrastructure costs tied to a commercial development project.
The vote to allow the MEDC president to execute the agreement passed by majority voice after a motion and second at the board’s regular meeting. The board also accepted the minutes of its Aug. 19 meeting earlier in the same session.
Board members said the agreement would reimburse developer-paid infrastructure—including extensions of water lines and roadwork—on a schedule tied to…
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