At its regular meeting on Wednesday evening, Mansfield City Council passed two items of legislation related to the building of a new “spec” industrial building at 1750 Airport West Road.
Both dealt with a proposed Community Reivnestment Area (CRA) Agreement with Airport West I, LLC which would result in construction of a 160,000 square foot industrial building.
In Ohio, a CRA is an economic development tool administered by local government that provides property tax exemptions for property owners that construct or renovate buildings. Depending on the local program, that can include industrial, commercial, and/or residential structures.
The first of the pieces of legislation authorizes the City of Mansfield to enter into a CRA Agreement for 15 years of 100% tax abatement.
The Agreement notes that Airport West I, LLC would be investing $9 million into the project, which would begin in less than two weeks and be completed by June of next year.
Total estimated new jobs at the facility would be three full-time and seven part-time positions, all of them permanent in nature. Annual payroll would run $124,800 for full time and $174,720 for part time employees in warehousing, and $208,000 for full time and $499,200 for part time employees in industrial. There is a potential lease partner that was not identified during the Council meeting.
The other piece of legislation with a CRA Compensation Agreement between the same entities and with Madison Local Schools. Under the Agreement, Madison would receive cash payments of $100,422 per year during the abatement period.
Among other measures, Council approved an annual amount for a new facade improvement program to be administered by Downtown Mansfield, Inc.. 1812Blockhouse will have coverage of that story and another from the meeting on Thursday, as well as coverage of a proposed new self serve fuel operation that will be transformative for operations at Mansfield Lahm Airport.