The Dayton City Commission held a public hearing and approved a Planned Development Overlay District and rezoned the 35-acre property from industrial to suburban general commercial.
That allows the land straddling Cincinnati, north of Edwin C. Moses Boulevard, to be used for commercial, office, retail and light manufacturing.
“It could be anywhere from 12 to 24 months realistically before we get to the point of announcing solid deals,” Goffstein said prior to the meeting.
“It’s still kind of a blocking and tackling process working with (potential) users,” he said.
Goffstein said opportunities for redevelopment of the site will be enhanced by proximity to the interstate and a full interchange, as well as its easy access to the University of Dayton and Sinclair Community College, downtown and the two medical facilities.
“We are in a healing economy right now,” said Goffstein. “I think in general I would say that users of all different use types are starting to get interested in doing deals and doing deals in Dayton.”
The building housing Med Work Occupational Healthcare will remain on the site and more tenants are being sought, he said.
Ann Schenking, principal planner II with the city, said redevelopment prospects for the site are promising.
“IRG has a very good track record in terms of redeveloping vacant industrial sites,” she said.
IRG has given the city assurances that it will continue to work with the Ohio Environmental Protection Agency to remediate environmental contaminants at the site.
The developer will also be required to provide landscaping and screening on the north side, where the residential Edgemont neighborhood abuts the property.
Also on Wednesday, City Manager Tim Riordan told commissioners he is worried about a proposal by Ohio House Speaker William G. Batchelder, R-Medina, to eliminate the Ohio Estate Tax.
Cities, villages and townships receive 80 percent of the revenues from the tax, which is assessed on estates worth at least $338,333.
Dayton’s receipts have averaged $1 million annually over the last five years and Riordan said losing the money would be yet another challenge for the beleaguered city budget.
“That’s a bunch of people. That’s a bunch of services,” Riordan said.
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