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Moody approves reimbursement redevelopment agreement with Trussville Retail after brief public hearing
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Summary
After a short public hearing, the Moody City Council unanimously approved Resolution R2024-01-08 and a related certificate of indebtedness to enable a reimbursement redevelopment agreement between the City of Moody, St. Clair County and Trussville Retail, LLC.
Mayor Joe Lee and the Moody City Council unanimously approved Resolution R2024-01-08 on Jan. 8, 2024, authorizing a Reimbursement Redevelopment Agreement among the City of Moody, St. Clair County and Trussville Retail, LLC following a brief public hearing.
City Attorney James Hill reviewed the terms of the proposed agreement during the hearing, which opened at 6:08 p.m. and closed at 6:12 p.m. Don Smith of the St. Clair County Economic Development Council said he supported the proposal. The council then voted to adopt the resolution by a unanimous voice vote; Council Member Linda Crowe made the motion and Council Member Matt Morris seconded.
The council also approved Resolution R2024-01-08A, a Certificate of Indebtedness evidencing the city’s indebtedness connected to the reimbursement agreement. The body voted to suspend the rules in order to consider and adopt the certificate; the suspension and the certificate were approved by roll call with all present voting AYE.
Minutes do not specify the detailed financial terms of the redevelopment reimbursement within the body of the meeting record. The actions taken authorize the city to proceed under the terms reviewed at the hearing and establish the indebtedness documentation required to implement the agreement.
The council completed its remaining business and adjourned at 6:19 p.m.