Main Street project attracting businesses; plus warehouse project update

By Rick Palsgrove
Groveport Editor

Potential tenants are being lined up for the two new commercial buildings the city of Groveport plans to build on Main Street.

According the Groveport Economic Development Director Jeff Green, three potential businesses signed letters of intent to move into the buildings. He said the names of the businesses will be released once lease agreements are finalized and signed.

“Two of the businesses will be in the Wert’s Grove building and one will be in the Rarey’s Port building,” said Green. “I hope to be able to announce the names of the businesses soon.”

The project is known as The 1847 Main Project and the city of Groveport is the developer for both sites.

Green said construction on the 14,145 square foot Rarey’s Port building, to be located the northeast corner of Front and Main streets next to Ace Hardware (674-716 Main St.), is set to begin the last week of July with completion expected by late March 2022. Construction of the 12,184 square foot Wert’s Grove building, to be located at the northwest corner of College and Main streets (480-490 Main St.), will start in August with completion expected by April 2022.

“We will be holding a formal groundbreaking for the 1847 Main project on July 27,” said Green. “Construction will begin on the Rarey’s Port building on July 28 and Aug. 12 for the Wert’s Grove building.”

The two new buildings will be two-story brick, mixed-use commercial buildings. The Wert’s Grove building will have five separate storefronts with the interior space divisible according to space requirements for potential new businesses. Its second floor space for now will be open. The Rarey’s Port building will have six individual storefronts on the first floor facing Main Street and the interior space divisible as required. Its second floor space will be open for now.

The cost to construct the two buildings will be approximately $7.6 million. It is being funded by a combination of non-tax revenue bonds and tax revenue bonds. According to Groveport Finance Director Jason Carr, non-tax revenue bonds equal taxable bonds and tax revenue bonds equal tax-exempt bonds. He said the project will be funded by general obligation bonds, which are bonds from the bond market and are not property tax bond issues that would be voted on by the residents.

Hayes Road warehouse project
Groveport City Council is considering entering into an economic development agreement and community reinvestment area tax incentive agreement with CA Ventures regarding two parcels totalling 47 acres on the southeast corner of Hayes and Pontius roads.

According to Groveport City Administrator B.J. King, CA Ventures is pursuing the purchase of the land and annexing it into Groveport.

“CA Ventures plans to build a 640,640 square foot warehouse on the property,” said King, who added the company is also seeking a community reinvestment area property tax abatement on the property.

King said there are several steps that need to be done before this warehouse is built, including combining the two parcels into one parcel, annexing the property into the city, rezoning considerations, and a development plan must be in place.

Speaking at council’s April 19 committee meeting, CA Ventures Executive Vice President, Industrial Jim McGill said the company hopes to begin construction of the warehouse in August with completion by the summer of 2022. He said it is “achievable” that the development could generate at least 150 jobs. He also said some improvements are planned to Hayes Road along the frontage of the property.

Councilman Ed Dildine said he hopes the company will also look into improvements to the nearby intersection of Pontius and Hayes roads as part of the project.

Green said the community reinvestment area property tax abatement would be a 100 percent property tax abatement for 15 years. He said the agreement would include an income tax revenue sharing agreement between the city and Groveport Madison Schools where each shares 50 percent of the income tax revenue generated by the site.

“All CRA tax abatements for new construction are 15 years,” said Green.

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