Council Meeting Highlights, 12/16/24
Item 13.12.24: Council approved an agreement between Mountain Brook and Homewood regarding the redevelopment of Brookwood Mall. The cities plan to collaborate and prioritize what is in the best interest of both communities once they receive the developer’s future plans. This contract ensures that. Homewood owns just over 50% of the property, Mountain Brook owns around 40%, and Jefferson County owns close to 10%. However, the county is not part of this agreement, as their part in this property pertains specifically to taxes. The agreement excludes Target and office buildings and focuses solely on redevelopment efforts, not on any existing structures.
Item 02.12.24: Council approved a request to repair walls along Griffin Creek. This is work required to repair the wall behind Hero Donuts, necessary to accommodate the new trail planned for the area. Estimated cost is around $92,000.
Item 09.12.24: Council approved tax incentives for the development named the "Edge". This will be a total incentive of $375,000 over five years, with an annual cap of $75,000. The Edge anticipates generating $3.6 million in revenue for the city over a 10-year period and is requesting 10% of that amount, subject to the $75,000 annual cap. The agreement is performance-based, meaning the incentive will be calculated as a percentage of actual revenue brought in by The Edge.
Agenda:
https://bit.ly/4iCkjAb
Upcoming meeting schedules: https://bit.ly/3bvufcT
Archived meetings: http://bit.ly/2UiSIaA
For all the details about this meeting watch the video above.
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