Smyrna Town Council passed a motion at their Jan. 22 meeting to waive town taxes for one local business, who will now donate the waived fees to the town's Redevelopment Authority.
Ed Ide, president of i3a construction management firm, recently decided to move his business to the Old Smyrna Theater at 106 W. Commerce St., and will share the building with Legacy Distilling.
Upon hearing that the town previously waived some fees for the owners of Legacy Distilling, Ide inquired about other incentives available for the business.
Ide approached council at the Jan. 22 meeting about waiving the property tax for Legacy Distilling's portion of the building. With a roughly $1,400 property tax, Legacy Distilling is responsible for about $1,000. If council agreed to waive the fee for a period of five years, Ide said he will match the monies if they are credited to the town's Redevelopment Authority Fund.
Ide said he would encourage other businesses to do the same, and he would pay his $400 portion of the building's tax.
Councilman Jeff Flairty said what Ide was doing is noble.
"I wish we had more business owners willing to commit to the community," Flairty said.
Council passed the motion to grant Legacy Distilling a tax relief of $1,000 for five years; the motion was amended to state at the end of the five-year period, the waiver can be reevaluated and renewed.
Email Jennifer Dailey at firstname.lastname@example.org.