[CPEO-BIF] Slocomb National Bank, Dothan, Alabama

[Lenny Siegel <lennysiegel@gmail.com>]

New Dothan bank could get large tax break because of location


By Debbie Ingram
Dothan Eagle (AL)
May 9, 2008


A 2004 state tax abatement law could save a new Dothan bank more than a 
quarter of a million dollars in taxes.

The Slocomb National Bank in Dothan could be the first entity in the 
state to take advantage of the Alabama Brownfield Development Tax 
Abatement Act of 2004. The act allows for a waiver on noneducational 
taxes for up to 20 years because the site of the new bank - an old gas 
station - has the potential of needing additional hazardous waste 
remediation.

If the City of Dothan and the Houston County Commission grants the 
abatement, the amount of ad valorem taxes saved would be $285,600 over a 
20-year period and the amount of construction-related sales and use tax 
savings would be $53,750.

The Brownfield Development site will be home to the Slocomb bank’s new 
branch, to be located at the corner of Ross Clark Circle and West Main 
Street, the site of a former Beard Oil service station.

...

For the entire article, see
http://www.dothaneagle.com/gulfcoasteast/dea/local_news.apx.-content-articles-DEA-2008-05-09-0006.html

--


Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org



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