Mayor Don Kyle presented a resolution to the City Council during a 90-minute work session Monday evening to allow negotiations to continue between the city and Genesis USA.
The proposed Sweetwater deal focuses on the development of 25 acres of land within a 125-acre tract at the juncture of Ala. 20 and I-65 in a Decatur-annexed portion of Limestone County.
The resolution shows the deal would require Nashville-based Genesis to develop five anchor stores, including a $28 million destination retail store of at least 100,000 square feet, a 250-room hotel and three restaurants expected to generate $1.9 million each in annual sales and $73,500 a year in municipal sales tax revenue.
The retail and commercial development would occupy land used by Mitchell-Frazier Farms, which is owned by Sam Frazier of Birmingham.
During a Feb. 25 special called meeting, the council authorized Kyle to negotiate with then-unidentified Genesis to discuss developing a potential $1.3 billion, 1.3-million-square foot project that could create up to 4,000 jobs.