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Council hears request for $10 million retention project and long-term tax abatement for Coolidge Plus
Summary
Economic development staff asked council to approve a local property‑tax abatement and job‑creation credit for a $10 million investment by Mount Healthy Holdings LLC, tenant Coolidge Plus: staff said the project retains 39 full‑time jobs and will add six full‑time positions over three years; staff proposed a 60% property‑tax exemption for 15 years and a 55% job‑creation tax credit over seven years.
Jody Gunderson, director of economic development, presented a local tax‑abatement request related to Mount Healthy Holdings LLC and its tenant, Coolidge Plus.
Gunderson said the project represents a $10,000,000 investment described primarily as a retention project: staff reported the firm currently employs 39 full‑time workers and expects to add six full‑time jobs over three years with roughly $315,000 in additional payroll tied to the new positions.
Staff said the planning commission recently approved the project and asked the council to authorize a property‑tax exemption of 60% for 15 years and a job‑creation tax credit at 55% over seven years. Gunderson described the project as a retention success for an existing local business that the city recruited in 2013 and said the incentives would help the firm build a new facility where it can expand.
Council discussed the project briefly and expressed support for retaining local jobs; no final ordinance or vote on incentives was recorded during the meeting.
