Scottsboro City Council unanimously passed an ordinance Monday to approve a project development funding and cooperation agreement between DR Scottsboro, LLC and the city of Scottsboro. The proposed funds from this ordinance for the shopping center would not exceed $3,685,500.
The money would be paid through a 65% tax rebate of the 3% sales tax rate for seven years or until they hit that mark.
DR Scottsboro, LLC, is a company that allows White Development to operate in Alabama due to state laws regarding taxes. The passed shopping center is the same shopping center that will be headlined by the Publix that was announced back in March.
“This shopping center is going to be excellent for the town,” said Jim White, owner of DR Scottsboro LLC. “Publix is an excellent grocer. We wouldn’t be able to come here without this help. We intend to do a real high-quality project.”