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Athens council unanimously approves amended Chapter 380 incentive for JAB Realty’s Cardinal Estates
Summary
Council approved a resolution authorizing the City Manager to enter an amended Chapter 380 agreement that raises the incentive from $242,000 to $345,000 for the Cardinal Estates subdivision; the motion passed unanimously.
The Athens City Council voted unanimously on Feb. 18 to approve a resolution authorizing the City Manager to enter into an amended Chapter 380 economic development agreement with JAB Realty Investments, LLC for the Cardinal Estates subdivision.
City Manager Elizabeth Borstad presented the amended agreement and shared progress photos of the Cardinal Estates development. Staff outlined the incentive package: a previous incentive of $242,000 and a proposed increase to $345,000, for a total reported project investment of $437,754. Staff’s breakdown listed Towers Holdings contributing $92,754 and JAB Realty contributing $345,000; the stated per‑lot incentive is $13,265. Staff noted there would be no future incentives for this subdivision.
Councilmember Bryan Barker moved to approve the resolution; Councilmember Bill Priestley seconded. The motion carried unanimously.
The City recorded the affirmation in the special session; the minutes show the motion passed with no dissent. The resolution was later reflected in meeting certifications dated March 9, 2026.
