Label
CRA-Phoenix Toledo Industrial Investors LLC (1313 Campbell)
Department of Economic Development
B. Sehlhorst (x1692), C. Watkins (x1154)
(Revised)
Title
Approving a Community Reinvestment Area real property tax exemption for Phoenix Toledo Industrial Investors, LLC, 401 E. Kilbourn Avenue, Suite 2017, Milwaukee, WI 53202, for the redevelopment of an industrial structure and parcel of real property located at 1313 Campbell Street, Toledo, Ohio 43607, located in the Southwest Community Reinvestment Area; authorizing the execution of needed agreements and other documents related thereto; making certain findings and determinations; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
Ordinance No. 787-95 enacted on December 20, 1995 as amended by Ord. No. 57-96 enacted on February 7, 1996, designated the "Southwest Community Reinvestment Area", pursuant to Sections 3735.67 through 3725.671 of the Ohio Revised Code, and declared that these tax exemption incentives promote and expand conforming use in the designated area. This area was subsequently certified by the Ohio Department of Development as Community Reinvestment Area ("CRA") effective February 15, 1996.
On October 29, 2019, Toledo City Council authorized Ordinance 494 granting a Community Reinvestment Area real property tax exemption to Phoenix Toledo industrial Investors, LLC ("Property Owner") for the redevelopment of a 226,929 square foot structure located at 1411 Campbell Street Toledo, OH 43607 for Brenntag North America, Inc.'s ("Tenant") new distribution facility. The Property Owner acquired the adjacent dilapidated industrial building located at 1313 Campbell Street to provide additional acreage for the Tenant's operations that will include additional parking, rail spur and storage, tank farm and a stormwater detention pond.
Phoenix Toledo Industrial Investors, LLC has submitted an application and agreement for a CRA real property tax exemption. The exemption is requested ...
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