Northport Council Approves Sales Tax Rebate For Diamond Jim's Steakhouse

NORTHPORT, AL — The Northport City Council on Monday unanimously approved an economic development incentive package consisting of a sales tax rebate to lure a popular steakhouse to the city.

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The resolution was taken up during Monday night's regular meeting and authorizes a project development agreement between the city and Diamond Jim’s & Mrs. Donna’s of Northport, LLC.

These are the owners of Diamond Jim's and Mrs. Donna's Steakhouse in Livingston.

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 will 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.

This incentive package will not include up-front cash incentives nor is the city borrowing money.

The amount rebated will be capped at $500,000 or if the agreement reaches seven years from its commencement date following the first point of sale, whichever comes first.

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