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Corinth approves Chapter 380 economic incentive agreement with M D Development LLC
Summary
The Corinth City Council unanimously approved a revised Chapter 380 economic development incentive agreement with M D Development LLC; the revisions specify that covenants do not run with the property and that property transfer will occur at civil approval before grading and tree‑removal permits.
The Corinth City Council approved a revised Chapter 380 economic development incentive agreement between the city of Corinth and M D Development LLC, staff said. Mr. Campbell introduced the item and Melissa Dailey, director of community and economic development, described two key changes to the agreement.
Dailey said the amended agreement clarifies that the covenants in the agreement do not run with the property and are specific to this developer and this agreement. She also described a revision to the timing of property transfer: the parcel would transfer at the time of civil approval but before issuance of a grading permit and a tree removal permit. Dailey noted the council had a copy of the new amended agreement in its packet and offered to answer questions.
A council member moved to approve the revised Chapter 380 agreement as presented; the motion was seconded and approved unanimously, as recorded in the transcript.
The transcript does not record further conditions or a detailed financial breakdown for the incentive; the packet referenced at the meeting contains the agreement text and the amended provisions summarized by staff. No public commenters spoke during the relevant portion of the meeting.
