Akron, Coventry to jointly develop 66-acre site near Portage Lakes
The city of Akron and Coventry Township on Tuesday announced they are jointly purchasing 66 acres of land in the township for projects that will expand the communities' joint economic development district pact.
The land, which is being sold to the two communities for $1.6 million, is part of an 85-acre Portage Lakes-area campus owned by IBH Addiction Recovery. IBH, originally known as the Interval Brotherhood Home, will continue to operate its treatment facility on the portion of the site that it is keeping.
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The agreement would add a second zone to the communities' JEDD and split income tax revenues 50/50 between the city and township in that zone.
An Akron official said the city would issue bonds for the purchase, with the township reimbursing the city for its share.
'A happy day'
Township Trustee Edward Diebold said Coventry envisions light industrial use of the property. He said the township and city have been hammering out the agreement for months.
"We've been slowly working at this," he said. "It's a happy day for me.
Akron Mayor Dan Horrigan said the agreement advances the neighbors' partnership established 28 years ago.
"It does show that there's a lot of cooperation between the communities," he said.
Trustee George Beckham said estimates for employment in the zone, when fully developed, range from 350 to 650 jobs. Anticipated revenues at buildout range from $400,000 to $850,000.
"It could be way more than that, it could be less than that," Beckham said.
Coventry's half-share of the revenues will be a big boost to the township's coffers, trustees said. As a township, Coventry has no local income tax, relying on property taxes for the bulk of its revenue.
The agreement will extend the JEDD partnership at least another 99 years, officials said.
Updating the state's first JEDD
Horrigan said the original Coventry-Akron JEDD, signed in 1994, was the first such entity in the state. The city currently has four JEDD agreements with surrounding communities: Coventry, Copley, Springfield and Bath-Fairlawn.
Diebold said the township will have final approval on development plans for the land acquired from IBH at Main Street and Killian Road.
"It's just cool to have all (these) come together," Diebold said. "(To) share equally in purchase (and) revenue."
The agreement announced Tuesday includes a separate deal on mutual aid for fire and EMS emergencies.
JEDD agreements developed in the mid-1990s as a way for townships to rebuff annexation efforts from cities.
Historically, townships receive a small share of the income taxes collected in a JEDD — in the Akron deals, it's about a 92 to 8 split in favor of the city — but the districts enable a township to add vital services like water and sewer.
A buffer, and no booze or pot
Trustee George Beckham said the zone has strong appeal to businesses seeking to move or expand.
"The property has perfect location on two county roads," said Beckham. "… It's a prime location for commercial development."
Trustee Jeffrey Houck said the JEDD zone will have a buffer between the property and surrounding properties. IBH and Akron, he said, agreed on uses that won't conflict with IBH's addiction recovery mission, with alcohol- and marijuana-based operations excluded from the JEDD site.
Diebold said there's no connection between Tuesday's announcement and a .75-mill levy on the November ballot."We're going to renovate all the parks," he said.
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Leave a message for Alan Ashworth at 330-996-3859 or email him at aashworth@gannett.com. Follow him on Twitter at @newsalanbeaconj.
This article originally appeared on Akron Beacon Journal: Akron and Coventry Twp. to jointly develop 66 acres near Portage Lakes
