Albemarle approves incentive resolution for company

At its July 22 meeting, Albemarle City Council approved a resolution that will provide incentive for a company in the hospitality/tourism industry to locate within the Albemarle city limits.
“The request is for your support of a business development grant totaling 50% of property taxes on new investment over five years,” Albemarle Economic Development Director Lindsey Almond said prior to a public hearing on the matter.
Almond went on to note that the company is expected to contribute over $600,000 in tax revenue to the city over the next 10 years, bring 20 new full-time jobs and invest a minimum of $8 million in its property.
“I believe bringing this development to (Albemarle) will be transformative and will spur further economic development in the future,” she added.
During the public hearing, no comments were offered in support or opposition, and council members approved the resolution unanimously.
Ron Casteen, who had appeared before council in May to request marking of parking spaces in the area of the Stanly County Senior Center, addressed Council to inquire on the progress of the request.
“We’re waiting on staff to determine whether we will go with angle parking or parallel parking,” replied Mayor Ronnie Michael, indicating that he expects to have “an answer and some direction in the next two weeks.”
In other business, council members:
• Approved installation of “No Parking” signs along Brown Avenue.
• Entered a closed session for the purpose of discussing economic development and to consult with the city attorney.
The next regular meeting of Albemarle City Council will take place at 6:30 p.m. Aug. 5.

Toby Thorpe is a freelance writer for The Stanly News & Press.

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