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Council hears 12‑year, 80% CRA abatement request for speculative 141,000‑sq‑ft industrial project; land sale deadline cited
Summary
Economic development staff recommended a 12‑year, 80% CRA tax abatement for a proposed speculative 141,000‑square‑foot flexible industrial building on a 10‑acre parcel near Tech Center Drive; staff said the developer guarantees minimum payroll and jobs and that the land sale must close by July 14.
Economic Development Director Gotke presented a proposed Community Reinvestment Area (CRA) tax abatement and fielded council questions on June 9, recommending a 12‑year abatement at 80% for a speculative industrial development on about 10 acres at the northwest intersection of Science Drive and Tech Center Drive.
The request matters because the city would forgo a portion of property tax revenue for up to 12 years to enable redevelopment of a long‑vacant parcel and to secure a developer willing to build and lease flexible industrial space in Gahanna’s Tech Center area.
“The application passes the but‑for test,” Economic Development Director Gotke said, summarizing staff analysis that the project would not “pencil out” without abatement because of site topography and higher development costs and would require subsidy to achieve market rents. Gotke described the…
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