Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Corinth approves amended Chapter 380 agreement and transfers EDC parcels to facilitate Kairos development
Summary
Council approved an amended Chapter 380 economic development incentive agreement with Kairos Community Partners LLC and a performance agreement to transfer four EDC‑owned properties to the city so they can be sold to Kairos; staff described an earlier closing date for the north site, adjusted construction timelines, and a minimum retail allocation of 60,000 square feet across three developments.
The Corinth City Council unanimously approved an amended and restated Chapter 380 economic development incentive agreement between the city, the Corinth Economic Development Corporation (EDC), and Kairos Community Partners LLC, and separately approved a performance agreement to transfer four EDC-owned parcels to the city to permit closing and subsequent sale to Kairos.
City staff explained Kairos requested an earlier closing on the north Corinth Parkway property. Staff said the agreement shortens the closing timeline by about six months but adds six months to construction deadlines so the overall build schedule is unchanged. On the southern property, staff added an additional six months to complete planning and civil documents that had been placed on pause to coordinate with other developments.
Staff also said the three developments combined have a minimum of 60,000 square feet of retail space: roughly 20% of that retail is slated at the north Corinth Parkway site and about 5% at the south site. "So those those are the changes, and I'll be happy to answer any questions," a city staff presenter said during the item. Kairos representative Sasha Clark was present to answer questions.
The council voted to authorize the agreements and to direct staff to execute necessary documents. The meeting record shows the chair announced each vote as unanimous; the transcript does not provide individual vote tallies.
