Representatives of Industrial Realty Group (IRG) asked council committees to designate the 29‑acre property at 701 West Chippewa as economically revitalized for an eight‑year industrial tax abatement to support redevelopment of roughly 220,000 square feet of the existing facility.

Mark Behmendofer of the city outlined the petition: the site contains about 1.4 million square feet of structures; IRG proposes to redevelop approximately 220,000 square feet by demolishing obsolete aviation engine test cells, adding truck docks and making building envelope and utility upgrades. IRG managers told the committee the firm has national experience redeveloping complex industrial properties and plans roughly $11 million in initial capital improvements for phase 1 work (roof, paving, utilities and siding), with additional environmental abatement and demolition work needed in later phases.

Why it matters: Staff estimated current annual property taxes at about $360,000 and projected post‑project taxes of roughly $503,000. Under the proposed eight‑year abatement, an estimated $97,000 of new property taxes would be abated during the abatement term; staff also showed long‑range tax projections beyond the eight‑year period. IRG said a large prospective tenant has expressed interest in up to 200,000 square feet once space is ready but that the firm has no signed lease at present.

Formal action: The Community Investment Committee voted to send the designation resolution (for an economic revitalization area and associated abatement) to the Committee of the Whole with a favorable recommendation; roll call recorded unanimous committee support.

Next steps: The designation will be considered by the full council; IRG said it may return for additional assistance in later phases depending on tenant commitments and phase‑by‑phase costs.