Dublin council to consider land-transfer, incentive packages
A proposed property-transfer agreement between Dublin and a real-estate developer could create a development opportunity for a little more than 9 acres owned by the city on state Route 161.
Dublin City Council members are slated to vote Monday, Aug. 10, on a real-estate transfer agreement between Dublin and VanTrust Real Estate.
The city would give VanTrust a 9.338-acre parcel on the south side of Route 161, east of Houchard Road.
VanTrust would give Dublin a 16.594-acre parcel east of Parkwood Place and north of Rings and Woerner Temple roads.
The site is south of the UnitedHealthcare offices at 5900 Parkwood Place.
The VanTrust property, known as the Tuttle Emerald site, is valued at a little less than $1.7 million, and the city's site, known as Crosby Court, is valued at $933,800.
When there is an immediate development opportunity for the Tuttle Emerald site, the city will issue a "development fee" payment of $725,600 to the developer, equal to the difference in total value between the Tuttle Emerald and Crosby Court sites.
Andy Weeks, VanTrust executive vice president, said the company has owned the Tuttle Emerald site for a few years.
"VanTrust and the city of Dublin have been working on an exciting economic-development project over the last few weeks, and we look forward to sharing more details in the future," he said.
Weeks said he could not share additional details because of the confidential nature of negotiations.
Council members are also slated to vote Aug. 10 on two incentive-package agreements.
The first is a one-time retention and expansion grant of $175,000 to assist Quantum Health with the expansion of its corporate headquarters in Dublin.
Quantum Health's corporate headquarters are at 5240 Blazer Parkway. The grant would be contingent upon the company purchasing and occupying a minimum 50,000-square-foot building in Dublin by Dec. 31 or executing a minimum 10-year lease for a similarly sized facility.
Under the incentive agreement, Quantum Health would commit to add approximately 300 jobs in Dublin by the end of 2023, for a total of 1,450 jobs by 2025.
The second incentive-package agreement is proposed for Air Force One Inc., to retain its headquarters and business operations in Dublin.
The company is at 5810 Shier Rings Road and is leasing a portion of the city's former development building at 5800 Shier Rings Road, but it requires additional space.
If Air Force One purchases and occupies 5800 Shier Rings Road, the economic-development agreement proposed is a four-year, 12% performance incentive on income-tax witholdings collected from 2020 through 2023 and capped at $73,000 for the term of the agreement.
The project would result in the retention of 102 jobs and the creation of 20 jobs.
The city has paid companies incentives in agreements such as this from nontax revenue -- licenses, fines, building permits and services provided to outside agencies, such as the Northwest Regional Emergency Communications Center.
Colleen Gilger, Dublin's economic-development director, previously has said all such incentives must come from nontax revenues, per state law.