Tax abatement approved for unnamed company - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
September 1, 2020 Newswires
Share
Share
Post
Email

Tax abatement approved for unnamed company

Cullman Times (AL)

Sep. 1--The Cullman City Council approved a tax abatement during Monday night's meeting for an unnamed company that is looking to make a multimillion dollar capital investment in the city.

The company, operating under the name Project York, is currently in the planning stages of a $24.25 million investment in the city, which would add 130 new jobs.

As part of the abatement, the company will be exempt from the state and city's noneducational ad valorem taxes and any construction related transaction taxes for the next 10 years.

City Council President Jenny Folsom said the company is still in the early stages of its planning, and the tax abatement was part of its proposal to consider a move into the city.

"A tax abatement right now for a new project means what you're giving up is something that you don't even have yet," she said. "If the project comes about and is in Cullman, it would be to abate just the city's portions of the taxes."

The council also approved a special event request from Javon Daniel of the Cullman Lions Club to hold the Cullman County Fair Parade on Oct. 3 from 1:50-3 p.m.

In other business, the council:

* Held the first reading of Ordinance No. 2020-41 to amend regulations for small cell technology facilities.

* Passed Resolution 2020-121 to apply for Fiscal Year 2021 AIP funds for Cullman Regional Airport.

* Passed Resolution 2020-122 to canvass the official 2020 Municipal Election results.

* Passed Resolution 2020-123 to issue certificate of election for Mayor Woody Jacobs.

* Passed Resolution 2020-124 to issue certificate of election for Cullman City Council Place 1 Andy "Coach" Page.

* Passed Resolution 2020-125 to issue certificate of election for Cullman City Council Place 2 David Moss, Jr..

* Passed Resolution 2020-126 to issue certificate of election for Cullman City Council Place 3 Johnny Cook.

* Passed Resolution 2020-127 to issue certificate of election for Cullman City Council Place 4 Clint Hollingsworth.

* Passed Resolution 2020-128 to issue certificate of election for Cullman City School Board Place 2 Chris Branham.

* Passed Resolution 2020-129 to issue certificate of election for Cullman City School Board Place 3 Cheryl Harrison.

* Passed Resolution 2020-130 to issue certificate of election for Cullman City School Board Place 4 Jason Neal.

* Passed Resolution 2020-131 to award the bid for tree removal and stump grinding at Heritage Park to the lowest responsible bidder, Michael's Tree Service, in the amount not to exceed $4,700.

* Passed Resolution 2020-133 to award bid for 24th Street traffic signal to the lowest responsible bidder, Stone and Sons.

* Appointed Leslie Echols to the Wellstone Board of Directors.

___

(c)2020 The Cullman Times (Cullman, Ala.)

Visit The Cullman Times (Cullman, Ala.) at www.cullmantimes.com

Distributed by Tribune Content Agency, LLC.

Newer

EDITORIAL: The president underlines the urgency of post-Laura recovery

Advisor News

  • DC plan sponsors see opportunity in alternatives
  • The American Dream: Redefined as financial stability
  • Partial annuitization: How advisors can help clients balance income, growth
  • Guide women along the walk through widowhood
  • Dutch gambling tax hike falls short as prediction markets eye World Cup
More Advisor News

Annuity News

  • KBRA Assigns Rating to TruSpire Retirement Insurance Company
  • Partial annuitization: How advisors can help clients balance income, growth
  • Guide women along the walk through widowhood
  • Regulators clear way to rewrite annuity illustration rules
  • Diversification’s growing importance in retirement planning
More Annuity News

Health/Employee Benefits News

  • As beer strike continues, community stands behind workers
  • Researchers at RTI International Report New Data on Managed Care (Tobacco Cessation Treatment in Pregnancy: Insights from Florida Medicaid Claims Data): Managed Care
  • Investigators from Medical University of South Carolina Have Reported New Data on Managed Care (Risk Factors Driving “no-shows” Across Orthopaedic Subspecialty Outpatient Clinics): Managed Care
  • New law provides clarity for firefighters’ health insurance
  • Appeals court tosses lawsuit accusing UnitedHealth of misleading seniors
More Health/Employee Benefits News

Life Insurance News

  • New York Life Launches an Indemnity Benefit for its Asset Flex Long-Term Care Insurance Solution
  • AM Best Affirms Credit Ratings of DB Insurance Co., Ltd.
  • AM Best Upgrades Credit Ratings of The People’s Insurance Company of China (Hong Kong), Limited
  • SWBC’s Joan Cleveland Reappointed to Texas Association of Life & Health Insurers (TALHI) Board of Directors
  • AM Best Introduces US Life Version of Best’s Capital Adequacy Ratio Model Product
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Prosperity Life GroupSM Launches Prosperity PathWaySM Series, Bringing Greater Choice and Flexibility to Retirement Income Planning
  • Senior Market Sales® Fortifies Annuity Reach With Acquisition of Retirement Planning Firm Stratton & Company
  • RFP #T01625
  • Rockwood Programs Appoints Kerry Ladouceur as Vice President, Financial Lines
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet