By Megan Miller, Editor
TRUSSVILLE – Fresh Value Marketplace will potentially soon be under new ownership.
Potential new owner Jerry D’Alessandro attended Tuesday’s Trussville City Council meeting. D’Alessandro’s family has been in the grocery business since 1951, and Trussville is the next retail location they’re looking to acquire.
The current owner, Mr. Norman, resides in South Alabama, which according to Councilman Buddy Choat has become a bit further out of his jurisdiction than he’d like to travel.
“We’ll add the local touch to bring the retail operation to the next level,” D’Alessandro said. “We look forward to improving what Mr. Norman’s company started. We’d like to grow tax revenue by focusing on fresh meats and produce, and listening to the citizens of Trussville.”
D’Alessandro and Norman both use the same wholesaler, Associated Grocers, which is based out of Birmingham. Additionally they use the same CPA.
“It should be a very seamless transition,” D’Alessandro said. “Everything from our wholesaler to the accounting team is the same.”
D’Alessandro said they intend to keep the same employees, so changes will be minimal.
Norman signed an eight-year lease, and there are around five years remaining on the current contract. The lease will be transferred as opposed to a new lease being drawn.
City Attorney Whit Colvin said RDA also plays a part in the transfer because it currently holds the lease on the facility, and part of the building has been leased to Norman.
“This group wants to assume the lease,” Colvin said. “It requires the consent of RDA and the consent of the city, because the city is a guarantor under RDA’s lease. Next is an assignment of the development agreement, because there’s a sales tax sharing comment.”
Colvin said whoever operates the store at any given time receives the tax incentive, so Norman will presumably receive one more check at the end of October before the store is signed over and the benefits transfer.
The benefits will be signed over to the new owner, therefore releasing Norman from any prior obligations.
Jef Freeman, RDA representative and recently elected to Trussville Council Place three, said that although RDA hasn’t officially heard the case, that they are comfortable with the arrangement.
Councilman Buddy Choat made a motion to transfer the lease, releasing Norman of current obligations subject to RDA approval. The motion passed unanimously.
4 Comments
Tamisha Broadwell
Charlie Broadwell
Judy Hulsey Acton
Improvements to the parking lot would be very welcome, too.
Becky Milan Miller
There go the prices…
Jarrod Hill
First thing I thought also, lol