Dublin Villager

Dublin, Everhart Advisors to ink land, incentives pact

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Everhart Advisors plans to build its headquarters in Dublin and bring about 10 new jobs to the city.

The investment consulting firm renting space on Venture Drive in Dublin has been planning to build a headquarters in the city and received an incentive package in February to build at the intersection of Post Road and Perimeter Drive.

The land deal, however, did not work out and the company began looking for a location.

Dublin managed to hold onto the company with a land deal and Dublin City Council members this week approved a new incentive package that will help the company locate on Commerce Parkway.

"I want to thank the economic development team," said Matt Romeo, Everhart Advisors COO. "They were very important in the continuation of business in Dublin."

The company plans to build a 10,000-square-foot headquarters on the east side of Commerce Parkway, beside Delta Energy.

The property is owned by Dublin and the city will sell the 1.86 acres to Everhart Advisors for $187,000, "less the city's location grant of $37,500 for the net sale price of $149,500," a memo from staff to city council members said.

The incentive package approved by council also gives the company a performance incentive on income tax withholdings of $5,000 per year for 2014 to 2016.

Over the three-year agreement, Dublin expects to collect $225,000 in income tax withholdings from the company.

In return, the company will build a headquarters in Dublin and is expected to grow from 15 employees to at least 25 by 2019, the staff report said.

In other city news, council members this week gave developers a little feedback on an apartment development planned for the Bridge Street District.

Casto took a concept for Tuller Flats to council in March for opinions on the 390-unit development that will sit on 17 acres of land south of Tuller Road.

Changes were made to the concept plan and Casto returned for more comments from council this week.

"We spent the last couple months trying to figure out if we could try to make this work economically," said Aaron Underhill, an attorney representing Casto.

Changes made to the plan include architectural adjustments and the addition of a large green space in the middle of the development.

"We heard last time there was a need for a gathering area," Underhill said. "We think we've created something special ... . We see it as an active area where people can go."

Council members mostly appreciated changes made to the development that will have apartments ranging in size from small 600-square-foot efficiency apartments to 1,200-square-foot town homes with attached garages.

"You're making a lot of progress," Mayor Michael Keenan said. "You're headed in the right direction."

Casto must go through the Bridge Street District zoning process before starting construction on the proposed Tuller Flats development.

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