Muscle Shoals council approves tax-sharing for restaurant

Muscle Shoals council approves tax-sharing for restaurant
(Source: Raycom Media)

MUSCLE SHOALS, AL (WAFF) - The City Council approved a tax-sharing agreement with a real estate development company out of Birmingham as an incentive for a second Jack's Family Restaurant location.

Capital Growth Real Estate asked for up to $150,000 to offset development costs for the lot the company is seeking to purchase to build a second Jack's in Muscle Shoals.

City sales tax collections will be split 50-50 between the company and the city for up to five years. The agreement only allows the company to collect funds equal to verified development costs and not more than $150,000.

The city put in place years ago an incentive package to attract business development on the Wilson Dam Road corridor as that road was widened and became more heavily traveled.

Read more at Times Daily.

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