The township and city will each pay $250,000 for the roadwork, while Duke Realty will pay $600,000. The entities also plan to apply for an Ohio Public Works Commission grant for the remaining cost of the project.
“Together we think that will cover the cost of the $1.8 million (road) project,” Kathman said.
Duke Realty will pay for the engineering costs of the project and Fairfield will manage the construction, according to the agreement.
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One major challenge of the project has been getting approvals from the Federal Emergency Management Agency because a majority of the land is located in a floodplain.
Until FEMA and Duke Realty finalize the agreement, the company can’t do anything on the portion of the project that is within the floodplain. They are near completion of the first building, a 285,000-square-foot warehouse next to UDF on Seward Road, which is not in the floodplain.
Fairfield Twp. Administrator Julie Vonderhaar said while the project is challenging because it is in the floodplain, “these things are great opportunities for us to work together. It was very collaborative … and I look forward for more of these kinds of successes.”
Company officials are hopeful for the success of the industrial park.
“The main driver in Cincinnati industrial is I-75 and 275,” said Daniel Colletto, Duke Realty vice president of leasing and development. “This market, the Union Center, Tri-County industrial market has grown.”
But there’s not a lot of open land in this part of the county zoned for industrial and warehouse. This parcel is zoned for industrial in Fairfield Twp.’s comprehensive plan and the benefits are around it — housing, an available workforce and infrastructure.
Next up for the project is to submit the OPWC grant for the road project, the city and township finalizing a joint economic development district, and the township finalizing its tax increment financing agreement with Duke Realty. The township trustees’ next meeting is Sept. 19.