DOTHAN, Ala. (WTVY) – The Dothan City Commission entered an economic development agreement with Eagle Eye Outfitters to help assist with their renovations.
The agreement allows for the store to receive sales tax revenue rebates over the next ten years, to not exceed $1.2 million.
“Building, construction and all the pieces that go into reinvesting into a company get to be expensive,” said Dothan Mayor Mark Saliba. “So, they can take the money they are generating themselves and help fill the gap in order to make it possible for them to continue on and invest and grow in the city of Dothan.”
This agreement is possible through Alabama State Amendment 772.
According to the Alabama Retail Association, Amendment 772 allows municipalities, “to use public funds to purchase, improve, develop or lease real property in favor of private businesses or to convey such property to private businesses and to lend credit or issue bonds to support economic development projects on …