Tax break sought on $7.6 million, 150,000-square-foot ‘shell’ building
Developers of a $7.6 million shell or “spec” building are seeking tax breaks from City Council.
Under an application for a tax abatement to be introduced at Tuesday’s meeting, GH Land Co. is seeking to save $1.34 million in real estate taxes over 10 years on the proposed 150,000-square-foot building on 20.3 acres at 8611 Avionics Drive. The building is “speculative,” meaning no tenant has been identified and that the interior of the building would be finished once an occupant is in place. Such projects are designed to attract companies looking to expand or relocate quickly.
“This building will add to the inventory of possible locations for businesses interested in locating in Fort Wayne,” the applications states. The land is zoned for general industrial use and the building could be enlarged to 240,000 square feet if necessary.