Downtown Redevelopment Authority
DOWNTOWN REDEVELOPMENT AUTHORITY
With the approval of the Downtown Redevelopment Authority, projects involving new construction or renovation of existing structures within the downtown area can receive abatement of property taxes and sales taxes on the materials purchased during construction/renovation.
The Montgomery Downtown Redevelopment Authority Act, created pursuant to Ala. Code §11-54A-1 to -25 (1975), is a governmental entity established by the City of Montgomery to “promote the public good and general welfare trade, commerce, industry, and employment opportunities.”
The principal benefit of utilizing this Authority is that projects of the Authority receive an exemption from State and local construction related sales tax and general property taxes. In addition, certain projects may qualify for federal tax exempt financing resulting in a low interest rate financing.
For additional information, please contact:
Edwin L. Yates
453 South Hull Street
Montgomery, AL 36104
Or, for more information contact The Montgomery Area Chamber of Commerce