New Montville stores to get tax abatement
Retail development will include GetGo, Starbucks, Chipotle
Montville Township officials (from left) Jeff Brandon, Sally Albrecht, Ron Bischof and Mary Pawlowski talk over terms of a tax abatement agreement for Montville Investors. Photo by GLENN WOJCIAK
MONTVILLE – Township trustees have approved an agreement to offer tax abatements to a new $7.7 million commercial development at the intersection of Normandy Park Drive and state Route 18.
The development proposed by Montville Investors LLC would include a GetGo gas station in one building and three other retail shops in a second building. Two of those shops are expected to house a Starbucks coffee shop and a Chipotle restaurant.
Township trustees agreed to abate 50 percent of the real estate taxes on the project for five years, 35 percent of the taxes for five more years, and 25 percent of the taxes for the final five years of the agreement.
The tax incentive program was made possible by the creation of community reinvestment areas in Montville which were approved four years ago by township trustees, county commissioners and the Ohio Department of Development.
Developers constructing or expanding businesses in the CRAs can now get up to 50 percent of their real estate taxes abated for up to 15 years if township trustees approve of their development plans. Companies applying for tax abatement in Montville are also required to join the Medina-Montville Joint Economic Development District making their employees subject to the Medina municipal income tax, which is shared by the city and township.
Bethany Dentler, director of the Medina County Economic Development Corporation, negotiated the CRA agreement with Montville Investors. The agreement is also subject to approval by Medina County Commissioners.
A separate compensation agreement calls for developers to give $2,000 per year to the Medina City Schools Foundation to make up for part of the tax revenue the schools will lose because of the tax abatement.
Dentler said the benefits of the development to the local economy include a pledge to create 68 new jobs whose workers will earn about $1.5 million a year.
Developers hope to begin construction by May 1 and finish by December, but not all issues with the proposed development have been resolved. Montville Zoning Inspector Paul Jeffers said concerns about improvements to Normandy Park Drive have not been answered.
Highway Engineer Andy Conrad has asked the developer to rebuild Normandy Park Drive from Route 18 to the new driveway for the new shops because the increased traffic anticipated will speed the demise of the already crumbling concrete.
Jeffers planned to convene a meeting between the developer, township representatives and county officials in hopes of finding a compromise for rebuilding the road since developers claim they cannot afford to do it themselves.
The development proposed by Montville Investors LLC would include a GetGo gas station in one building and three other retail shops in a second building. Two of those shops are expected to house a Starbucks coffee shop and a Chipotle restaurant.
Township trustees agreed to abate 50 percent of the real estate taxes on the project for five years, 35 percent of the taxes for five more years, and 25 percent of the taxes for the final five years of the agreement.
The tax incentive program was made possible by the creation of community reinvestment areas in Montville which were approved four years ago by township trustees, county commissioners and the Ohio Department of Development.
Developers constructing or expanding businesses in the CRAs can now get up to 50 percent of their real estate taxes abated for up to 15 years if township trustees approve of their development plans. Companies applying for tax abatement in Montville are also required to join the Medina-Montville Joint Economic Development District making their employees subject to the Medina municipal income tax, which is shared by the city and township.
Bethany Dentler, director of the Medina County Economic Development Corporation, negotiated the CRA agreement with Montville Investors. The agreement is also subject to approval by Medina County Commissioners.
A separate compensation agreement calls for developers to give $2,000 per year to the Medina City Schools Foundation to make up for part of the tax revenue the schools will lose because of the tax abatement.
Dentler said the benefits of the development to the local economy include a pledge to create 68 new jobs whose workers will earn about $1.5 million a year.
Developers hope to begin construction by May 1 and finish by December, but not all issues with the proposed development have been resolved. Montville Zoning Inspector Paul Jeffers said concerns about improvements to Normandy Park Drive have not been answered.
Highway Engineer Andy Conrad has asked the developer to rebuild Normandy Park Drive from Route 18 to the new driveway for the new shops because the increased traffic anticipated will speed the demise of the already crumbling concrete.
Jeffers planned to convene a meeting between the developer, township representatives and county officials in hopes of finding a compromise for rebuilding the road since developers claim they cannot afford to do it themselves.