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NorthPoint plans to construct a 440,000-square-foot building on the property. About 250,000 square feet of the facility will be occupied by a consumer goods company that has not been publicly identified.
NorthPoint already built and opened a 570,000-square-foot industrial warehouse north of U.S. 40 near Concorde Drive. The $33 million facility is occupied by Specrum Brands, which produces STP automotive products.
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NorthPoint is building a second facility — at a cost of roughly $31 million — next door to the Spectrum property that is 524,160 square feet in size for unidentified end user. The two projects take up almost 90 acres.
NorthPoint’s third facility will take up about 32 of the 159 acres and construction is expected to begin in early March, said Terry Slaybaugh, Dayton’s director of aviation.
NorthPoint will pay the city of Dayton $10,000 each year during the purchase option period. The city says it will sell the property at its “fair market value” determined by an appraisal.
During the first six months, if the purchase and development agreement is approved, the purchase price will be about $25,000 per ace, city documents show.
Under the agreement, NorthPoint agrees to pay the city $1.5 million to help fund infrastructure improvements at and around the site.
Also at the commission meeting tonight will be a public hearing about a proposed amendment to the Butler Township-Dayton Joint Economic Development District (JEDD) contract.
The amendment would remove 149 acres that the city has acquired and is considering offering to NorthPoint from the JEDD.
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