A financial tax agreement between the city of Homewood and a local developer supporting the construction of a much larger Piggly Wiggly grocery store building, surrounding businesss and additional parking passed the City Council on October 24th.
According to Murray Legg, a representative for the landowner who owns the Piggly Wiggly, CVS and Cameron’s Corner land and building — presented a plan that will move the present Piggly Wiggly to a bigger space on the property with more parking and less traffic problems.
Murray released a conceptual drawing at the Council meeting.
By a 9-3 vote, the Council passed the financial tax agreement.
Description of the Agreement
Here is how Homewood City Council President Alex Wyatt described the financial tax agreement:
“What we’ve done — we’ve taken a base amount, which is what we have received sales tax revenue for the past year — that will remain untouched over the course of this period of tax incentives. The city will continue to receive what it is currently receiving.
Of course we expect with the Pig getting bigger that they will increase their sales. And as they do, we will rebate them (the developer, which is the landowner) the amount over that base amount over the next ten years with a cap of $3.5 million.”
Legg, confirmed during his presentation that the landowner is still in talks with CVS about relocating their store on the adjacent property. He also said they anticipate the new Pig will be 35-40% larger than the present store.
“I am excited about the improvements coming to the Pig, and happy the City is partnering with the developer to make that happen,” Councilor Jennifer Andress told Bham Now. “The Pig is such an important business in our community, always giving back to our schools and other charitable causes. In addition, as the Ward 5 Councilor, I’m eager to see the traffic flow and safety improve at that vitally important intersection. It is more important than ever to shop our locally owned businesses!”
Tell us what you think about this new redevelopment across from Shades Cahaba School on Highway 31? Tag us on social media @bhamnow