L. Michael Ross, president of Franklin County Area Development Corp., is “cautiously optimistic” a warehouse developer may still pick an Antrim Township site even without extra tax incentives.
Ross said he expects a decision by NorthPoint Development “in short order … within the next 30 days or sooner.”
The Kansas City-based developer will be eligible for the Greencastle-Antrim School Board’s existing Local Economic Revitalization Tax Assistance, but will not be offered an enhanced version requested by Vice President Brent Miles when he spoke to the board in February. Franklin County commissioners do not offer a tax break on the property.
“We already had a LERTA,” school board President James Winslow said after last week’s meeting. “We feel the school district already gives enough.”
That information has been conveyed to NorthPoint, along with the G-A board’s respect for how Miles presented his case, Ross said.
NorthPoint can use the existing LERTA, which starts with a 100 percent tax break the first year, with the amount decreasing by 10 percent a year over 10 years.
NorthPoint is evaluating its next steps and Ross said he thinks the company recognizes the strategic location near Exit 3 of Interstate 81 and the amenities that surround it.
“They have conducted their due diligence and there are no red flags that I’m aware of,” Ross said.
NorthPoint is interested in 264 acres currently owned by ATAPCO off U.S. 11 south of Greencastle.
The plan for Antrim Commons warehouses Miles presented to the school board in February includes five buildings and more than 4 million square feet. His job creation estimates ranged from a conservative 2,000 to an optimistic 4,000.