Another 6.4-acre site will also be conveyed for $1, the document indicates. And for $10,000 per acre, the city is expected to convey 26 acres north of College Drive.
The city is expected to pay for certain public improvements, and it will grant to the center 50 percent of total annual income tax revenue received from newly hired permanent paid employees hired as a result of the expansion. That grant will last for five years, the agreement states.
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Council agenda documents put the estimated cost of the tax break at $400,000.
Center leaders have told the Dayton Daily News they plan to double the size of the center’s operations in Kettering and plans to add 200 employees in the next four years.
The center distributes more tissue grafts than any other facility in the world, operators say, and the planned $50 million expansion is an effort to strengthen the center’s place locally and globally.
The current facility at 2900 College Drive is about 94,000 square feet, said David Smith, chief executive of Community Tissue Services and its sister organization, the Community Blood Center. The expansion will add another 120,000 to 130,000 square feet of new space on adjoining properties, all on about 50 acres.
A message seeking comment was sent to Kettering’s economic development director.
Kettering City Council will meet at 7:30 p.m. Tuesday at Kettering city offices, 3600 Shroyer Road.