Map courtesy of Broad Metro
Broad Metro plans a second phase of Stadium Trace Village that includes a performing arts center, Golf Suites, 25-bed surgery center, furniture store and four medical office buildings. The latest proposal would end the access road at the performing arts center.
The Hoover City Council's consideration of a proposed tax incentive deal for the second phase of Stadium Trace Village has been delayed until May 20.
This past Thursday, Posey said he met with Hoover Mayor Frank Brocato last week and believed they had worked out an agreement that includes a higher level of tax breaks the council has been favoring and additional language the mayor was seeking to protect nearby residents and the city as a whole.
However, according to Councilman Steve McClinton, the developer, Will Kadish of Broad Metro, requested the vote be delayed until May 20.
The 82-acre second phase of Stadium Trace Village is proposed to include a 1,000-seat performing arts center owned and operated by the city, a Golf Suites tiered golf bay entertainment center, a 120,000-square-foot furniture store with dining areas, a 25-bed surgical center, four medical office buildings and 1.5 miles of walking and bicycle trails.
To help the developer recoup some of his development costs, the city is offering a variety of tax breaks.
According to Posey, the tax incentive package on the table last Thursday would give the Broad Metro development company up to $28 million in tax breaks, or $30 million if the city doesn’t build a performing arts center within three years.
That proposal would give Broad Metro 75% of new sales and lodging taxes and 100% of construction-related sales taxes over 15 years for property in Stadium Trace Village Phase 2, up to a maximum of $22 million. It also would give Broad Metro up to $6 million in non-educational property tax rebates.
Also, the city would pay Broad Metro $2.75 million, or appraised value if lower, for a graded 11-acre site for the performing arts center.
The revised proposal would, for the time being, keep the main access road for phase two from extending all the way to Brock’s Gap Parkway — an idea to which some residents off Brock’s Gap Parkway objected. Instead, the road would end near the city’s performing arts center, Posey said.
Whether that road is ever extended to Brock’s Gap Parkway would be left up to a future City Council, he said. City officials can wait and evaluate traffic flow patterns after the new Interstate 459 interchange is built, he said.
“Our job right now is to get the ball rolling [on phase two] and get the performing arts center place set,” Posey said.
Brocato said Thursday a final version of the development and tax incentive agreement still needed further review because documents sent by the developer Thursday were not lining up with discussions he and Posey had earlier in the week.
The City Council has a long agenda for Monday night’s meeting that also includes:
- A proposal to rezone about 40% of the Inverness Center North office park (24 acres) to accommodate 289 new apartments, 18,000 square feet of retail space and 15,000 square feet of restaurant space. A Louisiana-based development company called the Stoa Group wants to develop a four-story apartment complex called The Heights at Inverness on 15 vacant acres next to the three roughly 150,000-square-foot office buildings in the park, plus new restaurant and retail space along Inverness Center Parkway. A first reading is scheduled for Monday night, with a vote to come May 20.
- The purchase of a used garbage truck from the city of Alabaster for $70,000 so the city can assist Amwaste with missed pickups. Chief Financial Officer Jennifer Cornett said city officials found money that could be moved around in the existing budget to cover that cost. City Administrator Ken Grimes the city is counting up costs the city is incurring to help collect garbage and deal with complaints and will be taking such costs ouf of the city's regular payment to Amwaste.
- A tax incentive offer for a health technology company to relocate to Hoover from California. The company, which was unnamed and is also considering sites in Oklahoma, Texas and Florida, would be investing $308,500 in the relocation and bring 80 jobs with an average salary of $89,300, said Jackson Pruett, an economic development coordinator for the city. The proposed payroll tax incentive would be equal to 0.25% of the total estimated payroll over a period of six years, with a cap of $55,000.
- Appointment of Jeff Rodgers to the Hoover Public Library Board to fill a vacancy being created by the departure of Hal Humphries, who is leaving the board with 1½ years left on his term.
Editor's note: This story was updated at 5:53 a.m. to indicate that consideration of the Stadium Trace Village tax incentive deal has been delayed until May 20 and at 1:59 p.m. to clarify remarks concerning who is paying for costs related to garbage collection problems.
