Grandview Heights City Council is expected to vote Monday, March 4, on legislation authorizing a Community Reinvestment Agreement with Wagenbrenner Development for the Grandview Crossing project.
Wagenbrenner is planning a 53-acre mixed-use development along Dublin Road with about 15.9 acres in Grandview and the remaining parcels in Columbus.
The Grandview portion of the development is expected to include up to 50,000 square feet of office space; up to 250 apartment units, including a proposed senior-living development; a hotel with up to 200 rooms; and up to 50,000 square feet of retail space.
The agreement would provide the developer with a Community Reinvestment Agreement exemption for each building constructed on the parcels located within Grandview to enable site improvements to take place.
Wagenbrenner would receive a 15-year, 50 percent tax abatement for the hotel property, with a potential increase to 75 percent upon approval of Grandview Heights Schools and a 15-year, 50 percent exemption for multifamily residential and nonretail commercial buildings.
The agreement would also grant a 30-year, 100 percent tax-increment financing exemption with make-whole payments to the schools equal to the amount of property taxes the school district would have received if the improvements had not been exempted by the TIF.
Council also is expected to vote on legislation to create the tax-increment financing agreement and authorize the mayor to enter into the TIF agreement and a cooperative agreement with the developer.
The council meeting will be held at 7 p.m. in council chambers, 1016 Grandview Ave.
Council's economic-development committee will meet to review the legislation at 6 p.m.