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Gadsden approves tax-rebate deal to bring Dutch Brothers drive-through to North Hood Avenue
Summary
Council approved an economic development agreement with GAD City Partners LLC to build a Dutch Brothers drive-through at 300 North Hood Avenue, rebating 2.5% of the city's 5% sales tax for five years or until $500,000 is paid to the developer.
The council voted to approve an economic development agreement with GAD City Partners LLC to develop and construct a drive-through Dutch Brothers coffee at 300 North Hood Avenue. Under the agreement, the city will rebate an amount equal to 2.5% of the city's 5% sales tax proceeds for a period of five years from the opening date or until a total of $500,000 has been paid to the developer, whichever comes first.
President Beck and Mayor Craig Ford both framed the project as redevelopment of a long-vacant commercial parcel. "We got another coffee shop," Mayor Ford said, praising the recruitment work that attracted the business to a site that has sat vacant for a decade or more. The council moved to adopt the resolution and, after a voice vote, the motion carried.
The transcript does not record the detailed financial analysis for the rebate or the projected tax revenues; the resolution as read focuses on the rebate percentage, term and the $500,000 cap.
