Greene County Career Center will get a rebate back every year for five years. Merriman predicts they would top out at about an $81,000 tax rebate.
Ryan Duke, the city’s financial director, said he was “not necessarily” in support of the entire 1% rebate because the city already spent a lot of money to accommodate the career center.
“There are some good reasons to approve the rebate and some good reasons to not approve it or not approve the entire rebate,” Duke said. “When you look at what we spent specifically just on this project, we’re very much in the red and it will take well over a decade for us to recoup that investment."
Duke said that in order for the city to have this investment make sense financially, the city needs other developments at that site. Duke said, in his opinion, because the city paid to install water and sewer utilities and extend the road, that giving the career center a rebate did not make financial sense since future development at that site is unknown. Duke said the Greene County Career Center dragged out some agreements, making the project more expensive for the city.
“The revenues don’t offset the investment if you look at the project in a vacuum,” he said.
Xenia Mayor Sarah Mays said she motioned to give the career center the full rebate for five years because the city can. Mays said the city is excited that the Greene County Career Center built in Xenia and thinks there can be development on that road.
The career center sought the rebate to offset the cost of paying income taxes that it didn’t have at the school’s previous Xenia Twp. location, according to city records.
“The Innovation Drive area is ripe for development," Greene County Career Center Superintendent Dave Deskins said in a statement. “We believe a new career center, utilizing 21st century technology and new programming, will attract businesses looking to expand in the area.”
All council members present voted in favor of the tax rebate.