Albertville seeks input on development initiative - WAFF-TV: News, Weather and Sports for Huntsville, AL

Albertville seeks input on development initiative

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The Albertville City Council is discussing the transfer of $75,000 in city funds to the CDA board. The Albertville City Council is discussing the transfer of $75,000 in city funds to the CDA board.
ALBERTVILLE, AL (WAFF) -

The City of Albertville is looking to facilitate opportunities to attract retail development, but it involves taxpayer money, as well as public input.

The Commercial Development Authority was formed more than five years ago, but it was never funded. Now, city leaders want to make it a reality to bring in retail development.

The Albertville City Council is discussing the transfer of $75,000 in city funds to the CDA board. The board would be able to use that money to purchase retail properties as incentives to lure business to the area.

Council President Nathan Broadhurst said it was a process first used in luring Santa Fe Restaurant to town. He said the best part of letting the board handle the situation is that the board will become self-sufficient.

"What we're hoping they'll be able to do with these funds is to go out and maybe select a property or two, or whatever works for them, that they can rehab, possibly lease out, and turn into a revenue stream that they can use to continue to fold into continuous retail development," said Broadhurst.

The council hopes to set a public hearing on the issue for June 2.

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