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hitting retailer in Academy Sports
next to the proposed Blue Collar Country entertainment complex.
fee expires in 15 years.A provision in the agreement states that if the city does not receive its full investment amount back in six years though the city's 2 percent share of sales tax and the user fee, the developer is responsible for covering any shortfall at that point.Rouzie said project will benefit the city beyond the obvious economic standpoint as the project will implement a much needed water management and detention system in the South Pine Street area, across from Foley High School."That land there, you've got to dig out five feet of muck and then you've got to replace it with five feet of new sand and dirt, so just to get the ground stabilized it's pretty expensive," Rouzie said. "Again, it goes back to water retention and water control. There's more factors than just how much sales tax is generated to this deal."Rouzie said Academy has already reached out to the city to partner with its growing youth sports tourism, such as the city's plans to build a new 100,000 square foot indoor events center and 12 state of the art athletic fields off Baldwin County 20, New Balance Hiking Sneakers
Jeff Rouzie, director of economic development for Foley, said the City Council finalized its end of an incentives deal Monday that will bring a 62,000 square foot Academy Sports store to the city, anchoring a new 96,500 square foot shopping center called Foley Square.The center will be located on 12 acres at the corner of Pride Drive and South Pine Street, south of Walmart, and will also house three smaller tenants that have not New Balance 320 Womens
been named.The overall phase one project is estimated to bring upward of 200 to 300 jobs to the city and will fill a noticeable retail void, according to Mayor John Koniar."It fills a gap that the city has," Koniar said. "We really didn't have a sports provider, per se, in terms of equipment and uniforms and fishing and so on. We have a lot of small players but not a big one. So this will take care of some leakage, as they call this, in the retail sector. We were losing to other cities and even to Pensacola because people couldn't buy it here."View full sizeHere's Burton Property Group's preliminary site plan for the Foley Square commercial development that was approved by the Foley Planning Commission in June. Phase one of the project will be located on 12 acres at the corner of Pride Drive and South Pine Street, across from Foley High School and just south of Walmart. Academy Sports + Outdoors will be the developments anchor tenant, according to city officials. (Courtesy City of Foley)Rouzie said the developers are looking to break ground in September and would like to open by the New Balance Running Shoes Women 2018 end of March 2015. A planned second phase of the project will include 100,000 square feet of retail space.The city attracted the Foley Square development through an economic development incentive package similar to the McKenzie Village project, which is located next Lowe's and also includes a Big Lots.With McKenzie Village, the city through its cooperative district will charge an additional one percent user fee on top of the existing 9 percent sales tax that is collected in Foley. The user fee will allow the city to reimburse itself for $1.2 million it paid Burton Property Group for infrastructure improvements and a percentage of the collection will also be given to the developers for a set period of time.A similar user fee incentive program has been approved for Tanger Outlets and to attract Krispy Kreme and a future Shoe Station, which will be built at the current site of Chappy's Restaurant on Ala. 59 in front of Okki Japanese Steakhouse and El Paso Mexican Grill.In the Shoe Station deal, the developers, SS Foley LLC, were not given any upfront money but will be reimbursed up to 20 percent of their initial investment of roughly $3.5 million through the user fee collections, according to Rouzie. He said the property purchase is set to close on Aug. 29 with the building demolition taking place immediately afterward to make way for the new 13,000 square foot building.On Monday night, the council approved a more than $4 million incentives package for Burton Property Group's new Foley Square project, which is a joint venture with Foley Square LLC. According to the agreement and officials, the city agreed to pay $4 million upfront to help cover a portion of the public infrastructure improvements and the recruitment of tenants.As part of the deal, the city will recoup its investment, including interest and any legal fees, through the collection of the cooperative district's one percent user fee. Once that initial outlay is covered, the developer will begin receiving 20 percent of the fee up to a certain amount or until the Gray New Balance Shoes
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