Hilliard Northwest News

Sunbelt in line for a 50 percent tax credit

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Sunbelt Rentals plans to invest $1.1 million to build a 7,500-square-foot facility on Parkway Lane, just south of Cemetery Road and adjacent to the COTA Park and Ride at the southwest corner of the intersection.

Hilliard plans to offer a 15-year, 50 percent property-tax abatement to the company, which is relocating from Cemetery Road and Franklin Street.

An ordinance authorizing the deal is scheduled for a third and final reading at the April 28 Hilliard City Council meeting.

Sunbelt Rentals decided to move after reaching an agreement with Buckeye KRG, the developer of Landmark Lofts, a mixed-use apartment and retail development planned on about 6.4 acres on the north side of Cemetery Road.

"Sunbelt is making a significant investment," Economic-Development Director David Meeks said.

The incentive is worth $300,638, Meeks said.

Without the abatement, Sunbelt would pay an estimated $601,276 in property taxes during the next 15 years.

Of the $300,638 in property taxes Sunbelt Rentals would pay under the abatement proposal, Hilliard and the local joint vocational school district would receive $3,540 each, Norwich Township would receive $47,940 and Hilliard City Schools would receive $198,405.

If Sunbelt Rentals were to remain at its current site, valued at $344,000, for the next 15 years, Hilliard and the joint vocational school district would receive $2,890 each, Norwich Township $26,521 and Hilliard City Schools $117,351.

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