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County attorney seeks amendment to MBV-AL LLC project agreement to replace guaranties with IDB mortgage
Summary
County Attorney Connie Walker asked the Montgomery County Commission to place a proposed First Amendment to a 2021 Local Governmental Project Agreement on a future agenda. The amendment would release two guaranties, replace them with a mortgage in favor of the IDB on two lots, and grant an 18‑month extension of project deadlines; the memo notes an estate request tied to a deceased guarantor.
Connie Walker, Montgomery County attorney, asked the County Commission to place a proposed First Amendment to the April 2021 Local Governmental Project Agreement with MBV-AL LLC on a future agenda. In a memo to the commission, Walker described a proposed change that would replace two existing guaranties with a mortgage in favor of the IDB and extend the agreement's deadlines by 18 months.
The amendment, according to the memo, would “release and replace” guaranties previously executed by Ulysses L. Bridgeman Jr. and Kevin R. Attkisson and substitute a mortgage on Lots 2A-2 and 2B to secure the project's recapture-payment obligations. The memo also says MBV-AL LLC purchased the project site on or about May 12, 2023, subdivided it (creating Lot 2A-1, Lot 2A-2 and Lot 2B), and built a warehouse and distribution center on Lot 2A-1, which the company plans to sell, leaving the remaining lots subject to the Project Agreement.
Walker’s memo notes that Mr. Bridgeman died in March 2025 and that his estate holds his indirect interest in the company; the estate has “asked that the guaranty be released so the estate can be probated,” the memo states. The proposed amendment would release both guaranties and, the memo says, replace them with a mortgage in favor of the IDB on the identified lots.
The memo identifies the original agreement as an April 2021 Local Governmental Project Agreement between the City of Montgomery and Montgomery County under which the City and County provided cash incentives to MBV-AL LLC tied to the construction of an approximately 1.7 million‑square‑foot packaging and distribution facility along Wasden Road. The memo describes recapture provisions that could require repayment of incentives if the company fails to meet certain commencement deadlines.
The document provides lot-size figures: it lists Lot 2A-1 as approximately 65 acres and Lot 2A-2 as approximately 106 acres. Elsewhere the memo also refers to land subject to the Project Agreement as “approximately 185 acres” and at one point lists Lot 2B as approximately 1,583 acres; those figures appear inconsistent within the memo and the county attorney’s office packet does not reconcile them. The memo does not define the acronym "IDB."
Walker recommended the commission place the proposed First Amendment and accompanying documents—the draft amendment, a redline mortgage document, and the executed Project South Local Project Agreement—on a future agenda. The memo contains no record of a commission vote or formal action; the recommendation is presented for the commission’s consideration.
Next step: the item is being recommended for placement on a future commission agenda for formal consideration; the memo does not record any decision or board action taken at the time of the packet.
