City of Pinson receives clean audit, plans to purchase prime real ...

By Lee Weyhrich

A presentation was made at the Pinson City Council meeting Thursday night by the accounting firm of Borland Benefield regarding the city?s annual audit. The city passed with flying colors.

Additionally, the council passed a resolution Thursday that will net the city three acres of prime real estate worth an estimated $700,000. The land runs near Highway 75 from the corner of Big 10 Tire through the Rite-Aid property. The total cost to the city for the property will be just over $262,000.

BHT Investments, Inc., the company that currently owns the property, was asking $375,000 for a portion of the property.? Due to government tax incentives, the owners approached the city of Pinson with the offer of a lifetime: the city could purchase that property at a reduced rate and the company would donate an attached parcel of land for free.

?Owners of property have certain tax advantages by selling to a city below market value or donating property,? Mayor Hoyt Sanders said.

As a stipulation of the deal, there are some limitations for the property?s use. Due to the presence of both Winn-Dixie and Rite-Aid nearby, the property cannot be developed for use of a competing drug or grocery store. The council hopes to develop the property into an area for restaurants, something the mayor said the city was sadly lacking.

The council will be required to make a down payment of $100,000, and then make payments thereafter. The one business already on the property, Rite-Aid, will be annexed into the city.

?With the Rite-Aid, we can assume from just a tax-base perspective that that property alone will pay for itself in 10 to 12 years ? even without further development,? Councilman Joe Cochran said.

In other city news, the council appointment of members to the vacant Zoning Board posts. David Gillian will replace John Harrison. Wayne Sellers will serve the last year of Michael Neel?s unexpired term, and Marvelyn Deese will serve another three years in her current position.

David Sparkman will replace Councilman Robbie Roberts on the Planning Commission.

The council also signed an ordinance establishing that Pinson is now part of the Purchasing Association of Central Alabama, a cooperative between various government entities that allows its members to share in bulk buys for better prices.

?Most cities in the area are members,? Sanders said. ?We are at the point where the paving projects we have planned for the next year will benefit us greatly.?

The yearly dues to the association are $700 annually, but the council believes the savings for materials will be many times that amount.

State Representative Allen Treadaway gave a presentation at the meeting on the economy and what it means for Alabamians. According to Treadaway, Alabama is the second highest state in regards to job creation, and the government has also been able to cut $600 million from the state budget, but the economy is still hurting funding for many projects. Despite this, however, Treadaway said there is hope for one part of the population that has largely dealt with cuts in recent years.

?I?ve talked to the governor and he believes this year we will be able to grant the teachers the raises they deserve,? Treadaway said.

Source: http://www.trussvilletribune.com/?p=3851

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