Decatur, Ala. | Monday, May 20, 2013
Council to vote on $6.8M tax deal
Plan: Double Decatur Mall’s annual sales
By Tiffeny Owens
Decatur Mall owners have 5½ years to double annual sales and sign new tenants at the 34-year-old commercial center before they can reap up to $6.8 million in tax incentives. That’s the crux of … More »
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8 comments on this item

This would be a good investment. They have to proudce before they get the investment.

This would be a good investment. They have to proudce before they get the investment.

As of March 1, 2011, Garrison Investment Group had about $1.9 billion of committed and invested capital

And I as a tax payer should give up some of our coffers.

hard hat & flip flops - thats safe :-)

I thought the same thing Ronald! haha.

City Council must ask what kind of Bank Promissory note Mall owners are willing to sign that in the event that Mall revenue if does not increase to .City of Decatur has seen in the past that false promises have been made about projected income & then company goes out of business.

"In 10 years, Garrison projects the upgraded mall could generate $10.1 million for schools and $22.6 million for the city. Garrison estimates that during the same period without the upgrades, existing retail would generate $4.6 million for schools and $13 million for the city.

From 2006-11, annual sales dropped 36 percent at the mall, from a high of $66 million to $42.1 million, Salmon said "

Malls are a dieing if not already dead business model, everything in a mall can be bought online for a fraction of the cost, I don't see what these people see in investing so much in it, and considering Decaturs growing black gang problem ,I would be surprised to see them ever recoup there money.

Malls are dying, but Hey, let's give 'em $6.8M!! We've got it to spare!

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