Steelpointe Residential Tax Incentive Agreement Approved
City of BridgeportCity · AL- Disclosed value
- $100,000,000
- From agenda
- Document date
- Jan 3, 2022
- Term
- 12 years
The 30-second brief
Tax incentive agreement for Steelpointe residential development, with $100 million investment. The agreement includes a phased-in tax payment schedule over 12 years, with initial taxes at $23,900 annually, escalating to $1,476,291 in year 10. The project aims to create 400 housing units and related amenities.
Sp Residential 1 holds this tax incentive contract with City of Bridgeport.
Term as filed: 12 years.
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Contract details
- Contract type
- Tax Incentive
- Amount
- $100,000,000
- Document date
- January 3, 2022
- Term
- 12 years
- Vendor
- Sp Residential 1
- Agency
- City of Bridgeport
- Source document
- city-of-bridgeport-city-council-agenda-capital-plan-steelpointe-development-jan-3-2022_263.pdf (Agenda)
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Questions about this contract
Who was awarded the tax incentive contract by City of Bridgeport?
Sp Residential 1 was awarded this tax incentive contract by City of Bridgeport, as recorded on January 3, 2022. The contract value is $100,000,000.
How much is the Sp Residential 1 contract with City of Bridgeport worth?
The Sp Residential 1 contract with City of Bridgeport is valued at $100,000,000, covering tax incentive work.
What type of contract is this?
This is a Tax Incentive contract, documented as a agenda record.
Where was this contract approved?
This contract appears in city-of-bridgeport-city-council-agenda-capital-plan-steelpointe-development-jan-3-2022_263.pdf (Agenda), dated January 3, 2022 from City of Bridgeport. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Sp Residential 1 hold?
Sp Residential 1 may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Bridgeport currently buying?
Explore City of Bridgeport's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.