Two key elements of Walker County’s agreement with the developers of Canyon Ridge Resort are missing from their legal agreement, but Commissioner Shannon Whitfield said they will fix the problem before they’re too late.
During public meetings last week about the project, Whitfield told residents that the county will abate property taxes on Scenic Land Company’s investment for 30 years. In exchange, he said, the company will continue to pay taxes as if the investment had not happened. Right now, for example, the property is worth $16,000, much less than it will be if the company manages to develop a luxury resort.
This part of the agreement allows Whitfield to argue that the county isn’t losing anything in the deal.
Also, Whitfield told residents, the county won’t trigger the abatement unless the company reaches two goals: invest $100 million in the project, and hire 180 full-time employees.
But a memorandum of understanding between the county and the company does not outline that part of the agreement. It merely says that if the company is short on its goals, it has to pay the Walker County Development Authority some money in proportion to how short they are.