The Gardendale City Council on Monday approved a tax incentive plan for the old Raceway property on Fieldstown Road. The property will be demolished and rebuilt under the RaceTrac brand. The abandoned property will be cleared over the course of approximately one month and the process should begin later this year. After that, a state-of-the-art building, housing a coffee bar and yogurt area, along with other modern amenities will be opened. As part of the project, the business will purchase the right-of-way area from the city for approximately $131,000. They will also pay to move utilities, including $59,913 for moving the gas line and $5,153 to move a power pole that is currently on the right-of-way.
As a result of those expenses, the city council agreed to a plan that would return half of the 3% sales tax the city collects from items sold in the store, once it opens. The tax agreement would be in place for seven years or until the $200,000 from the right-of-way project can be recouped, whichever comes first.
The costs of demolition and reconstruction would be covered by RaceTrac. Once complete, the business would employee 20-25 people.