Former Middletown senior center may become BMW motorcycle dealership

Mike Allen Real Estate Holdings, LLC, doing business as BMW Motorcycles of Greater Cincinnati, wants to invest more than $1.27 million in construction and upgrades to renovate the former senior citizens center at 140 N. Verity Parkway, according to a staff report prepared by Alexis Fitzsimmons, assistant economic development director.

The building has been empty for the past decade since a new senior center was built on Central Avenue in 2007.

The company wants to create the BMW dealership that would sell new and used motorcycles and parts, general merchandise and offer service for customers as well as employ at least 12 new full-time jobs and create $375,000 in new payroll.

Fitzsimmons said the project would include the separation of all utilities from the city’s municipal building. Both buildings were built in the mid 1970s.

If Middletown City Council approves the sale of the building and a 12-year, 100-percent Community Reinvestment Area tax abatement, the project would start construction during the first quarter of 2018 and be completed by Dec. 31, 2018.

The agreement would also get another empty building and property and their maintenance costs off of the city’s books and placed back into productive use.

Council will hear a first reading of both proposals at its meeting Tuesday, with final approval slated for its Dec. 5 meeting.

In the agreement, the city would agree to sell the property to the developer, and the developer agrees to purchase the property for the purchase price of $300,000. The developer will pay $50,000 in cash payable to the city simultaneously with delivery of the deed. The developer would be granted a credit in the amount of $250,000 against the remainder of the purchase prices for completing the project as described in the development and sale agreement.

Also as part of the agreement, the city would be required to pay the Middletown City School District 25 percent of what the district would have received had this tax abatement not been in place, this is required as a part of the Comprehensive School Compensation Agreement passed in December 2015.