BAY MINETTE, Ala. (AP) - A Baldwin County judge has approved changes to a revenue-sharing pact between Orange Beach and the
developers of The Wharf.
Presiding Baldwin County Circuit Judge James Reid, who approved the original agreement between Orange Beach and AIG Baker in 2004, ruled Monday on the revised deal.
The new arrangement will enable developer AIG Baker to reclaim as much as $32.5 million in taxes generated at its property while relieving taxpayers of the cost of maintaining roads, sewers and bridges there.
The deal allows Birmingham-based AIG Baker to recoup half of the annual sales and lodgings tax generated by The Wharf's retailers,
restaurants and condominiums for 15 years, beginning this year.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
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