Monroe City Council has approved a tax abatement for a proposed $33 million development.
Council voted 5-2 to approve the new Community Reinvestment Area that will provide a 50 percent abatement on real property investment over a 10-year period to ProLogis, which is developing a $33 million Bed, Bath and Beyond e-commerce center that will be located on 62 acres off Salzman Road, across from the Kohl’s Distribution Center.
Vice Mayor Dan Clark and Councilman Todd Hickman voted against the tax abatement.
Hickman said he voted against the deal because he thinks ProLogis had the funds to pay the full amount of taxes based on the amount of the company’s 2017 revenues of more than $2.6 billion.
“I’m tired of giving tax breaks to corporations for another warehouse,” Clark said. “Maybe if it were something other than a warehouse, I would consider it.”
The proposed deal was introduced in late May, but final approval of the incentive package was tabled due to continued negotiations between the city and ProLogis officials until Tuesday’s meeting.
Construction is anticipated to begin in early July with construction to be completed in early winter 2019. Once completed, there will be about 900 full-time equivalent jobs created at the 827,080 square-foot facility, according to an application submitted by ProLogis.
Kevin Chesar, city development director, has previously said ProLogis is anticipating an early winter 2019 construction completion date.
“(The) Development staff has worked cooperatively with the developer to ensure that the proposed location meets site planning standards and we look forward in assisting them through the upcoming construction phase,” Chesar said in an email.
Last September, the $1.81 million Salzman Road extension was completed linking Ohio 63 with Todhunter Road and Yankee Road in Middletown.
Last month, Opus Group and Founders Properties began work on a new 612,730 square-foot distribution center near the corner of Todhunter and Yankee roads in Middletown, an investment of $16 million to $21 million and expects to have about 150 employees.