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Developer seeks $5.75 million incentive for Springbrook project; resident urges denial, committee forwards proposal to council
Summary
Delaney Property Group proposed a $5.75 million incentive package for a Springbrook Circle commercial development; developer said the subsidy is needed for feasibility, while resident Susie Smith urged denial, calling revenue and job projections 'wildly optimistic.' The finance committee voted to forward the proposal to full city council for consideration on Dec. 27.
The Tuscaloosa City Finance Committee on Dec. 16 heard a presentation from Delaney Property Group seeking a $5.75 million economic development incentive for a commercial project on Springbrook Circle and voted to forward the proposal to full city council for consideration.
John Jackson, representing Delaney Property Group, told the committee the developers are seeking a $5,750,000 incentive package and described the project as a multi-lot commercial development with six lots. "We're proposing ... $5,750,000 incentive package for a project on Springbrook Circle," Jackson said, adding the developer estimates initial city sales-tax revenue at about $46,500 per year and noted that…
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