New Deal Reached Between Orange Beach and The Wharf

After a year-long battle between Orange Beach and The Wharf’s developers to renegotiate a 2004 agreement, a deal has been reached to allow developer AIG Baker to get up to $32.5 million in sales and lodgings taxes that the project will gain during the upcoming 15 years.   The city comes away a winner too.

Originally, the agreement required the builder to utilize the 215-acre site by giving back the taxpayers $25 million worth of roads, sewers, wetlands and bridges. Back it 2004, state law required local governments to receive something back from developers that was the same value to any taxes they would rebate for the project. Currently, the laws have changed and taxpayers are no longer required to take something back in exchange for tax breaks. This is what motivated Orange Beach officials to renegotiate the agreement.  The original 2004 deal still needs approval from the City Council and a Baldwin County Circuit judge before it can become concrete

If The Wharf experiences enormous growth and then generates $6 million or more in taxes, the developer's responsibility will be capped at $2.17 million.

Meanwhile, Orange Beach reaped benefits too. In the new deal, Orange Beach will receive:  

·       A slip reserved at the development's marine for police boats.

·       Land on Canal Road for a future fire station.

·       30 percent of the display time on the development's large electronic sign.

·       Some use of The Wharf's outfitter center and amphitheater as well as staging areas for special events.

New economic improvements like the possible new deal with the Wharf could make Orange Beach a more stable community to live in.

Are you looking to live in a mild climate all year round? Would you love to see white sandy beaches at your back door? Or perhaps just the thought of the sound and sight of emerald green shores would turn your life around. If you answered yes to just one of these questions than be sure to put Orange Beach at the top of your list of places to explore as a vacation or even a permanent home.

Find out what the excitement is all about today. I can help you find the ultimate beach front condo at the most competitive rates. Allow me to create memories for you that will last a  lifetime.

Whether you are looking for a beach home for your retirement, investment property, vacation home or second home, I can help you find the perfect real estate in Gulf Shores or Orange Beach Don’t waste any more time, let's get started today! Contact Lance Steffek at (251) 981-2225.