First Look At Incentives Being Considered By Northport To Lure Diamond Jim's Steakhouse

NORTHPORT, AL — The Northport City Council is set to hold a public hearing Monday night as it considers an economic incentive package to lure a popular steakhouse to the city.

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The resolution that will be taken up during Monday night's regular meeting would authorize a project development agreement between the city and Diamond Jim’s & Mrs. Donna’s of Northport, LLC — the owners of Diamond Jim's and Mrs. Donna's Steakhouse in Livingston and the same family behind the popular Big Mike's Steakhouse, which has multiple locations across the state.

As Patch previously reported, the proposed location in Northport would be on Highway 43 across from the new Los Tarascos.

City leaders hope to develop the long-vacant site, while also bringing in the new restaurant as a response to requests from the public for more sit-down dining options in Northport.

City Hall says the estimated capital investment for the developers is approximately $1.7 million, with city leaders pointing out that the business would generate significant annual taxable sales, along with providing new jobs.

According to the resolution, the city is proposing to rebate the developer an amount equal to one-half of the City Sales Tax Revenue actually collected and received by the city from the net taxable sales generated by the project.

The amount rebated will not exceed $500,000 if the economic incentives package is approved.

If approved, the agreement would last seven years from its commencement date, which could be as early as Tuesday if the resolution is approved during Monday night's meeting.

Tuscaloosa Patch will have more on this story following the meeting.

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