HUBER HEIGHTS — At its regular meeting on Sept. 14, the Huber Heights City Council approved the amended ordinance for the execution of The Red Buckeye Development Agreement with DEC Land Co. I LLC concerning land they own.
Assistant City Manager Don Jones said this involves over a $37 million investment in the city by two individual developers involving about 50 acres.
DEC Land Co. I LLC proposes to sell a portion of this land to MV Residential Land LLC (“Miller Valentine”) for a 192 unit multi-family housing complex (the “Miller Valentine Project”). Another portion of the property is expected to be sold to Danbury at Carriage Trails, LLC (“Danbury”) to construct a 101 unit senior housing facility (the “Phase One Senior Housing Project”).
The DEC Land Co. I LLC proposes to sell to Danbury or an affiliate for constructing a 100 unit senior housing facility (the “Phase Two Senior Housing Project”). The final portion involves the one or more “Additional Development Projects.”
This is expected to provide an estimated $34.122 million in revenue to the community over the next 30 years and even more after that into the future. It is anticipated that these businesses will also provide approximately 620 construction jobs and and estimated 185 new full-time jobs.
In a memo, Jones stated that in order to facilitate the development of these new businesses and cause them to locate in Huber, the city will need to provide a combination of special assessments and certain tax abatements to fund necessary public infrastructure with 100 percent to be repaid by developer with the dollars referred to above as the net of any incentives.
Jones said that road is not in yet, but is the road the city is talking about building and accessing the property owner which is DEC. He said to build that road is going to involve a take of about two acres.
In response to a question from Mayor Thomas McMasters, Jones said the proposed road would go to every parcel except H and I. Jones said that G doesn’t exist yet, but is about a five acre parcel which is where the first phase of the senior housing will go. He said it would have about $12,600 a year in assessments. Jones said Phase 2 involves another five-plus acres with $12,500 of yearly assessments.
In response to another question from McMasters, Jones said the proposed road is not part of the $37 million investment. He said there would be an investment of about $14.4 million for Miller Valentine—Waterstone Garden and $23.2 million investment for Danbury Senior.
In response to a question from Tyler Starline, Jones said the final draft of development agreement was received about 5 p.m. prior to the Council meeting. He said Miller Valentine wanted the inclusion of language related to their ability if the road wasn’t developed. Jones said if the road wasn’t completed and the city had to finish the road, it would benefit the city to have that road as there would not be any development on that acreage until the road was in.
Starline said he was struggling with the process as a matter of procedure with Council receiving the revised document prior to the meeting. Jones responded by indicating that this agreement had to be in place ahead of the CRA agreement. Jones said the time line is being driven by developer and that they are running out of time this year in regards to pots of money that they can invest.
“So, we want to get that commitment for that particular pot for this year,” said Jones.
He said the city wants the documents executed and placed on the land “so that when we pass the CRA,” the documents will exist on the land.
Council member Mark Campbell asked City Attorney Alan Schaeffer if there was any reason to hold this agreement up. Schaeffer said that the possibility that DEC will default at this point, the chance is “slim to none.”
When Starline asked about timing of deadlines, Jones said that moving it back two weeks might not be an issue if it was just involved two weeks, but said he couldn’t say that it wouldn’t be a problem. On the vote, Starline cast the sole no vote for amending, waiving and adopting.
Reach Greg Smart at 937-684-8088 or on Twitter @HH_Courier.com