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Developers seek 10‑year, 50% tax abatement for proposed 131,000‑sq‑ft industrial building on US‑31
Summary
Nick Lawrence of the Wheatley Group presented plans for a 131,000 sq. ft. Class A industrial building on a 9.57‑acre US‑31 site, estimating a $10.6M capital investment, roughly $398,000 in annual property taxes pre‑abatement, and potential to support 94 construction jobs and more than 160 eventual employees; the developers requested council consideration of a 10‑year, 50% tax abatement.
Nick Lawrence of the Wheatley Group sought council input on a proposed development on a roughly 9.57‑acre parcel along US‑31. The project includes construction of a 131,000 sq. ft. Class A tilt‑up industrial facility intended for light‑industrial or warehouse uses and is being marketed to multiple potential tenants rather than a single user.
Lawrence said the project budget is about $10.6 million, including site development and a roughly $1 million increase for additional site fill and stabilization; MDOT has required an estimated $120,000 access improvement along US‑31. The team requested consideration of a 10‑year, 50% tax abatement (modeled on incentives used for comparable developments). Lawrence said the abatement would lower a roughly $398,000 annual property-tax bill to just under $200,000 annually for the period covered by the abatement, that the construction phase could support about 94 jobs, and that a full tenant could employ more than 160 people over time.
Council asked about likely users and runoff/detention; staff and developers said the site has drainage and utility challenges that increase upfront costs but that the project remains marketable for the region. The presentation was informational; no formal council vote on incentives occurred at the meeting.
