BRISTOL, Va. - Public comments have been positive about Bristol, Virginia's tax agreements with The Falls Development.
After the threat of a lawsuit, the city agreed to a compromise with the county. The agreement must first be approved by The Commission on Local Government. The agreement calls for the city to give the county part of the tax revenue to compensate for the loss of Lowe's, which will be moving to The Falls project. The city will also assist the county in the development of the Trammel Property, by helping with road construction and installing water lines.
Bristol Mayor, Guy Odum, hopes the deal will be approved, "It would be disappointing for the county, and it would be disappointing for us. We would certainly like to have the county develop the Trammel Property and be able to share in the revenue in the property. It would be a set back for us."
The Commission on Local Government will take comments until May 30th, then by July Commission will take their recommendations to a panel of judges for a decision.
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