Posted in the Arab Forum
#1 Jan 9, 2012
How do you feel about the city council giving incentives in the form of no or reduced property taxes, no taxes and the inventory and/or the value of the equipment required to do business and the city paying for the building and in 25 years the business gets the building and property free and clear?
This is what Applebees restaurant is wanting in order to come to Arab. Frank Cox was set to give it to them when he was mayor but a backlash from outher business owners prompted him to put the deal on the back burner. The deal is in the process of being made again though.
For those of you that might not be awar when you own a business, any business in Marshall county or any county in Alabama you are required to submit a list of ALL inventory and equipment the business owns or leases. You then pay a tax on all the items. There are one or two people that work for the county that do audits and make sure the business's are listing everything required. This is everything from cash registers, table, utensils, glasses, etc.;
The proposed deal also gives the restaurant chain a steep discount on property taxes. I am not privy to the exact rate being propsed but it is almost negligible compared to what others pay.
How do you feel about your tax dollars funding a building that a private company will own in 25 years. I need to point out that the only costs incurred by Applebees will be what little property taxes the do pay and the $10.00 they will pay at the end of the 25 years.
The city of Arab in return will get the taxes on the food sold there, 3% if I am correct, and the tax on alcohol which I am unsure of the rate at which alcohol for on site consumption is taxed but if it is the same as the beer stores then the tax rate is 15%. The city will also get the $5000.00 liqour license fee and I am sure they will thrown in the taxes being paid by the employees on their pay checks just to help get the numbers up there.
So even if the city makes back all the money they will be spending on the land and building do you think this is a good idea for the city? Do you think OUR tax dollars should be spent this way?
How do you feel about a private company getting a building essentially for free when its our tax dollars that built it?
#2 Jan 9, 2012
That in order for Arab to have places like that, then they must conform to they way other cities operate. Im in business, I will say that many businesses look outside of Arab because of the AEC, the water board, gas district, etc...they are a hassle, very difficult. Want to know why so many businesses (industrial) sprung up at the bottom of the mountain? Several being Arab resident owned and operated. The AEC, ask them, they will tell you. A machine shop owner was ready to locate an expansion here, said it was easier in Atlanta, the people here (AEC) were ridiculous, so they opened north and employ 52.
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