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Redevelopment commission recommends six-year tax abatement for Bigby Coffee site
Summary
The commission recommended a six-year real-property tax abatement for Strauss Development LLC (Bigby Coffee) at 3232 Lisa Drive, a project the presenter said will involve nearly $1,000,000 of investment; the recommendation (with a 15% fee distribution) will go to the city council for final approval.
The Bedford City Redevelopment Commission on July 21 recommended that the city council approve a six-year real-property tax abatement for Strauss Development LLC, which will operate a franchised Bigby Coffee at 3232 Lisa Drive.
A representative identified as Dan said the project will bring nearly $1,000,000 of investment to the community and will be owned and operated by Jay Strauss and Kara Williams. "We expect the local community to fully embrace these new products provided by Bigby Coffee from the minute they open their doors," Dan said.
Staff reported the commission members scored the application and the average score was 58, which under the redevelopment ordinance corresponds to a six-year abatement. Staff recommended a 15% annual fee to be allocated among local economic-development entities (Bedford Redevelopment Commission, Lawrence County Economic Growth Council, Bedford Revitalization Inc., and Bedford Urban Enterprise Association). The proposed six-year abatement schedule presented to the commission was: 100% in year 1; 83% year 2; 67% year 3; 50% year 4; 34% year 5; 17% year 6.
A motion to approve the recommendation was made and seconded. The commission voted in favor (voice vote) with one member recorded as abstaining from the scoring process and an abstention noted during the vote; the staff said the matter will be forwarded to the city council at 7:00 p.m. for final action.
The commission’s recommendation directs the council to consider the six-year abatement and the proposed fee distribution; final approval and the implementation schedule will be determined by the city council.
