Alabaster secures bonds for infrastructure
Published 12:00 am Tuesday, April 6, 2004
The city of Alabaster took a giant step to clear the way for the anticipated development of the Interstate 65, Exit 238 redevelopment area Monday night.
The Alabaster City Council unanimously approved a resolution to roll previous bond issues into $19.4 million in bonds for infrastructure improvements related to the expansion of the commercial tax base of the city.
According to the resolution
and Councilmember Jim McClain, $9.195 million will be used for public infrastructure improvements
roads, acquirement of land and sewer. And
$10.205 million to construct a new road from an existing public road to a proposed municipal complex
in the area.
The council also approved by resolution the issue of $20.140 million in sewer revenue warrants to increase the size of the current line that serves the area.
The actual bond issues, however, will be approved at the council’s next meeting on April 19.
During a public hearing on the bond issues, Brian Ratliff of Colonial Properties reported that the development will create 1,200 jobs, will generate $159 million in annual gross sales and will generate more than $5 million in tax and license fees for the city.
He also said the development will involve about 30 local contractors and create about 500 construction related jobs.
Ratliff said the project will take about one and a half years to complete and that he expects heavy equipment to be on the site around May 1.
Cam Ward, executive director of the Alabaster Industrial Development Board said the development makes him &uot;proud to live in Alabaster.&uot;
He of the council, &uot;You guys took a hard road, made some hard decisions and took a hard beating.&uot;
Council President Rick Walters also expressed his appreciation to Councilmembers Bobby Harris and Adam Moseley.
He said, &uot;We wouldn’t be here without you guys.&uot;
In a related matter, the council approved by resolution the rezoning of remaining 1-65, Exit 238 property on Highway 31 inside the footprint of the Colonial Development from agriculture to B-3 (neighborhood business) for Shelby Land Partners.
The council also approved a resolution to vacate Pumphouse road, Interstate Drive, Ninth Place and Stacey Place as a new road will be built and access will be provided remaining property owners.
The council also approved by resolution the annexation of the Gordon property located at Highway 31 and Interstate Drive as an entrance to the redevelopment area.
Among other matters:
* Mayor David Frings recognized Police Chief Stanley Oliver for his recent completion and graduation of the FBI Academy.
* And set a council work session for April 12 at 7 p.m. at the conference room.