Will Open In Early February
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WATER VALLEY – Company officials at Jack’s Family Restaurant report a new location on South Main Street in Water Valley is expected to open in early February. Site work at the property, which formerly was home to Mills Brothers Body Shop, started late last month.
“The location will bring around 60 new jobs to the area, with both full-time and part-time opportunities,” reported Karmen Baker, Field Marketing Coordinator for the company.
Headquartered in Birmingham, Ala. Jack’s Family Restaurant operates 202 fast food restaurants across the southeast. The restaurants feature sit-down dining, drive-thru and takeout service. The menu features primarily burgers, fried chicken, breakfast and various other fast food items including French fries and soft drinks.
City aldermen approved a tax abatement for the company’s investment at the property during last Tuesday’s city meeting, marking the first time the abatement has been utilized since the Historic Preservation District Tax Abatement was adopted by aldermen in 2018. The program allows the portion of city taxes assessed for renovations and improvements, or for new structures, to be deferred over a five-year period. The abatement is staggered, with 100 percent of the new investment exempt in year one, 80 percent in year two, 60 percent in year three, 40 percent in year four and 20 percent in year five.
Mayor Donald Gray provided an overview of the request on behalf of Jack’s Family Restaurant during the city meeting. Gray said Jack’s original investment for the property purchase was around $365,000, and the company’s total investment in the project will be approximately $1.5 million. The abatement is only for city taxes, and the company will pay the full tax rate for county and school millage.
The Historic Preservation District Tax Abatement Ordinance was established within the area of the city designated as historic by aldermen. This area is defined as the commercial core of Water Valley. The historic district also covers the east and west side of Main Street, along with the streets surrounding the county courthouse.
A minimum project investment of $25,000 is required to apply for the abatement.
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