During an Oct. 2 special meeting, Montgomery City Council approved a Chapter 380 agreement with Home Depot in a 4-1 vote. Council Member Sara Countryman voted against approval, citing constituent feedback.
In a nutshell
According to the Oct. 2 agenda packet outlining the agreement details, Home Depot will:
- Contribute $750,000 toward improvements for the Buffalo Springs Drive and Hwy. 105 intersection
- Pay the remaining construction costs of $674,000 plus 15% for contingencies
In return, the city of Montgomery will:
- Reimburse Home Depot for the $674,000 over a period of five or more years using 50% of the total sales tax collected by the city at the retailer’s new store
Zooming out
Home Depot is anticipated to open a new store along Buffalo Springs Drive just west of Kroger, Community Impact previously reported.
During its Sept. 12 meeting, Montgomery City Council approved 4-1 a proposal to reconstruct a portion of the roadway and add a traffic signal to the Buffalo Springs Drive and Hwy. 105 intersection for $1.4 million. Countryman voted against approval, citing feedback from constituents.
What else?
The improvements to Buffalo Springs Drive and Hwy. 105 are anticipated to be completed in September 2024, Montgomery City Engineer Chris Roznovsky said during the meeting. Home Depot’s new store is slated to open in October 2024.
Learn more
View the Chapter 380 agreement below.
