The new building at the Park North industrial park in Monroe is the latest of more than a dozen buildings the Warren County Port Authority has or will own. This way the developer or company avoids sales tax on the construction. A series of leases and legal agreements enable the subsidy and set terms under which the company or developer can take ownership.
Here are 5 buildings the Warren County Port Authority has or will own.
1. Miami Valley Gaming Racino: The gambling hall and harness track facility is east of I-75 on Ohio 63 in Turtlecreek Twp.
2. LCNB Administration Center: The bank building is a block north of the long-time headquarters of Lebanon Citizens Bank on Broadway in Lebanon.
3. Hopkins Commons: The development is to include apartments for senior citizens, a senior center, restaurant and banquet cente on Ohio 48 in Hamilton Twp.
4. Peters Cartridge Factory: The former munitions factory is to be an apartment complex and restaurant development outside Kings Mills and along the Little Miami River and multi-use trail.
On Thursday, the Warren County Port Authority Board of Directors approved agreements with IDI Gazeley expected to save the Atlanta-based company about $600,000 in state and county sales on construction of a $33 million sales and distribution center.
This is just the latest in more than a dozen similar deals the authority has done with companies in Warren and Preble counties.
The deals leave the port in ownership of the buildings which are then leased to the companies. In Preble County, the authority signed agreements saving sales taxes otherwise owed on construction of developments by Henny Penny and Pratt Industries.
In Warren County, the authority has also signed similar deals with Fed Ex and ADVICS in Lebanon and Victory Wholesale in Springboro, as well with companies that have leased space from IGI in buildings at the Park North industrial park in Monroe.
Source: Warren County Port Authority