|From:||Lenny Siegel <firstname.lastname@example.org>|
|Date:||Sat, 10 May 2008 15:49:26 -0700 (PDT)|
|Subject:||[CPEO-BIF] Slocomb National Bank, Dothan, Alabama|
New Dothan bank could get large tax break because of location By Debbie Ingram Dothan Eagle (AL) May 9, 2008A 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 <email@example.com> http://www.cpeo.org _______________________________________________ Brownfields mailing list Brownfields@lists.cpeo.org http://lists.cpeo.org/listinfo.cgi/brownfields-cpeo.org
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