Enhanced Incentive Package for Stadium Trace Village: Hoover Council Proposed!

Hoover Council Pushes for Enhanced Incentives, Including Performing Arts Center, for Stadium Trace Village Development

Hoover Council Crafts Bolder Incentive Plan for Stadium Trace Village, Including Larger Tax Benefits and Revived Consideration for Performing Arts Center

Members of the Hoover City Council are not pleased with the incentive package that Mayor Frank Brocato put up for the next stage of Stadium Trace Village. They have devised a proposal of their own, granting tax benefits of up to $30 million to the development business Broad Metro—more than the mayor had proposed. In addition, they are proposing to reserve funds or land for a performing arts center—a feature that was previously excluded from the incentives but is now being considered again.

READ ALSO: Performance-Based Incentive Plan Proposed by Hoover Council for Stadium Trace Village Sparks Debate Ahead of Monday’s Vote

Enhanced Incentive Package for Stadium Trace Village: Hoover Council Proposed!(PHOTO: HooverSun.com)

Performance-Based Incentive Plan Proposed by Hoover Council for Stadium Trace Village Sparks Debate Ahead of Monday’s Vote

The majority of the incentives under this new scheme are dependent on the developer’s output. They will not receive the incentives if they fail to fulfill specific targets. The developer is also required by the council’s proposal to undertake some construction tasks, such as constructing access roads. While some council members are in favor of this concept, others are still unsure since they have reservations about the cost and the timeline. On Monday, the council will vote on the idea.

READ ALSO: CalFresh Replacement Benefits for March 3 Outages – What You Need to Know?