Incentive plan in play for Captain D’s
Leada Gore, Hartselle Enquirer
The Hartselle City Council is sweetening the bait for a fast-food fish restaurant locating in the city. The move marks the first time the council has used the incentive package designed to lesson the costs associated with businesses moving to the area.
Under the terms of the agreement with Captain D’s, Hartselle will pay back up to $60,000 from sales tax revenues it collects from the business over a five-year period to cover infrastructure costs associated with the restaurant’s construction. The money will cover the cost of two state-required deceleration lanes off Highway 31 into the restaurant.
The plan was met with mixed reaction from the council.
The money will come from sales taxes generated during the first five years of the restaurant’s operation. The city will collect the full amount of sales tax from the restaurant then return 50 percent of that money until the $60,000 is covered.
The city will return the money on a quarterly basis. Payments will start after the first quarter the business is in operation.
The city adopted its business incentive plan four years ago but have not used it for any new developments until now.