Dayton
Business Journal...
City to decide UPS
hub deal this week
by DBJ Staff
Monday, April 25, 2011
The Dayton city commission will vote this week whether to approve a
deal that turns the former United Parcel Service Inc. facility at the
Dayton International Airport over to California-based developer IRG.
Dayton City Commissioners will be asked this week to approve a deal
that turns the former United Parcel Service Inc. facility at the Dayton
International Airport over to California-based developer IRG.
The commission’s Wednesday agenda includes a three-party agreement
between the city, UPS and a subsidiary of IRG.
Under the deal, IRG will assume the UPS lease until it expires at the
end of 2021 and pay the city $3.2 million over a five-year period.
Payment for the remaining years will be negotiated at fair market
value, according to a memo to commissioners from City Manager Tim
Riordan.
In addition, UPS will give $5.75 million to IRG at closing and the city
will release UPS from liability for the 1.2 million square-foot
property, contingent on several conditions.
IRG plans to redevelop the site and said it hopes to attract as many as
1,400 new jobs.
Mark Herres, CEO of Englewood-based Builders Development Group LLC, has
his own plans for the former UPS hub and is calling upon the city
commission to delay making a decision to sell the hub until proper
consideration of his proposal.
On Tuesday, IRG, Woolpert Inc. and the city of Moraine will unveil
plans for redevelopment of the former the General Motors Moraine Plant.
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