Gulf Shores council OK's trio of deals that will allow Saunders Yachtworks to continue expansion | Breaking News from the Press-Register - al.com

Gulf Shores council OK's trio of deals that will allow Saunders Yachtworks to continue expansion | Breaking News from the Press-Register - al.com: "GULF SHORES, Ala. -- A trio of agreements that will allow Saunders Yachtworks to get started on a $6 million boat basin at its new headquarters on municipal land was approved unanimously by the City Council on Monday.

The votes cap a lengthy deal-making process in which the federal government agreed to pay about $4.8 million of the construction cost as long as the city came up with the remaining $1.2 million. Strapped for cash but wanting to help Saunders expand, the company and municipal leaders crafted a pact last fall in which the company would lend Gulf Shores the $1.2 million now and see it repaid eventually through the rebate of sales taxes generated on the property."