A tenant-binding community-benefits agreement that survives transfer of ownership, with automatic sunset of all incentives if the project is sold to an entity not bound by the same agreement.
Cloverleaf's $10 million pledge through the Central Alabama Community Foundation is structured around milestones Cloverleaf controls. Even if every dollar arrives, none of it binds the eventual operator. A real community-benefits agreement runs with the land, names the operator as a signatory, and snaps back if the asset changes hands. Without that, every commitment in the press release is a promise only Cloverleaf can keep — and Cloverleaf will not be there.
Why Cloverleaf can't answer thisTenant-binding terms reduce the value of the package Cloverleaf is assembling to sell. Their business model is to hand the buyer a clean asset; an asset encumbered by enforceable local commitments is, by definition, less clean.
For your letterI ask that any abatement, road improvement, or service agreement be conditioned on a binding community-benefits agreement signed by the eventual operator, with automatic sunset of all incentives if the project is sold to an entity not bound by the same agreement.