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Home Depot Deal: Does it Make Schools Whole?
Wednesday, December 19, 2007 3:11:39 PM - Monroe Ohio

by John Beagle

Duke Realty Corp. trying to reach an agreement with the city, schools and Home Depot.

They are seeking a 15-year, 80-percent tax abatement from the city of Monroe with a twist. This agreement will make complete offsetting payments to the school district. According to an unnamed school source, "This deal could  provide tax advantages to Home Depot without losing revenue to the Monroe Local Schools."

Duke previously has brought a failed 100-percent tax abatement GM deal to Monroe.

Councilman Elect Tracy Shell had this to say, "Gm left, we did not chase them away. They have also left 6 other communities besides ours. They decided they wanted a building that already existed. We do not have any building in Monroe that fits their needs.

Remember those jobs are already filled and will not be available to local residents until those currently in those jobs retire or leave. After the companies 15 year tax abatement's they have a history of leaving. Please check GM's track record and then you may rethink your position."

Home Depot wants to build a $33.9 million 657,000-square-foot distribution facility that will bring in $12- $16 per hour jobs.

"We are talking about the same site General Motors wanted in the Monroe Commerce Center, the other site is Vandercar property off Ohio 63 and Interstate 75 in Warren County," councilman Bob Kelley said regarding the Home Depot Distribution deal.

If the deal is approved by the school district and Monroe the building will be completed in the fall quarter of 2008.

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