“We’re ready tomorrow,” Downs said of the impending move. “It’s been a great place … but we’ve outgrown it.”
But when RelaDyne moves its jobs is dependant on when NorthPoint Development completes construction on the first of two new buildings at its Union Centre Logistics Park at the corner of Union Centre Boulevard and Seward Road.
The two-building construction project is valued at between $30 million to $33 million, said Tim McElroy, NorthPoint’s vice president of development. The first of the two buildings — a 477,000-square-foot facility — should be completed by October or November. The second building, which will be 128,000 square feet, should be completed a month later.
RelaDyne will take up about a quarter of the 477,000-square-foot building, and NorthPoint will receive an eight-year, 75 property tax abatement from the city with RelaDyne’s relocation.
The larger of the two buildings is valued at around $18 million, according to the tax incentive agreement.
McElroy said there are only “perspective” tenants for the rest of the space.
RelaDyne has been in business for 35 years and is a wholesale oil distributor, distributing oil for Shell and Chevron in three markets — automotive, industrial and the heavy-duty vehicle industry. The new space will be for its distribution and shared services hub.
“We look forward to being a part of Fairfield,” said Downs. “We have a lot of great people that are looking forward to moving to a new location and we’re just very proud that Fairfield has given us space. We definitely need it very quickly.”
Development Services Director Greg Kathman said in order for the Fairfield City School District and Butler Tech to not lose tax dollars because of the property tax abatement, NorthPoint has agreed to annual compensation over the life of the tax abatement to both the Fairfield City School District and Butler Tech.
The company will pay the Fairfield School District $90,000 a year and Butler Tech $1,500 a year, according to the tax incentive agreement.
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