Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Moody approves 10-year deal to receive 75% of Entertainment Center tax revenue from St. Clair County
Summary
Moody City Council unanimously approved an agreement for St. Clair County to deliver 75% of sales and entertainment tax revenue from a proposed Entertainment Center to the city for up to 10 years, or until the city’s incentive is satisfied.
Moody Mayor Joe Lee announced and the city council approved an agreement under which St. Clair County would deliver 75% of the sales and entertainment taxes it collects from the operation of a planned Entertainment Center to Moody for a period of 10 years or until Moody’s incentive remains outstanding.
The council voted unanimously to approve the agreement after Council Member Nick Rutledge moved for approval and Council Member Matt Morris seconded. The motion was recorded as carried by a unanimous vote of those present.
The deal, as described in the meeting record, ties the revenue delivery to the opening of the Entertainment Center and continues for a maximum of 10 years or until the city’s incentive obligations are satisfied. The minutes do not specify the value of Moody’s incentive, the precise administrative mechanics for the revenue transfer, or whether the agreement requires additional approvals by county officials.
Council did not record extended discussion in the minutes beyond the motion and vote. The meeting record shows the council handled the item as a formal agenda vote and approved the agreement during the Jan. 23 meeting.
The council adjourned at 6:30 p.m.; the minutes were later attested by Mayor Joe Lee and City Clerk Tracy L. Patterson on Feb. 13, 2023.
