Officials debate Spec building

by Morgan Dixon
Staff Writer

Officials are meeting today in Columbus to decide the fate of the vacant Spec building in York and Dover townships.

The Nebraska Book Company, a Nebraska-based company, hopes to move the Spec building, located at the Poston Industrial Park, but is waiting for a decision on a state loan to renovate the interior.

The Athens County Port Authority, which owns the spec building, is presenting a loan today to the Development Financing Advisory Council in Columbus, said Bill Sheehan, credit analyst for the Ohio Department of Development.

The loan request is $716,500, Sheehan said. The loan, to be paid over 15 years at three percent interest, would be used to create office space and whatever other changes are necessary.

Depending on the advisory board’s decision, Nebraska Books could sign a deal following the meeting to lease the building, said Tom Swanson, director of Specialty Books.

Nebraska Books owns Specialty Books nationwide including store located on North Court Street as well as a warehouse on Industrial Park Road, Swanson said. Nebraska Books wants to move into the Spec building because the current location is too small.

A deal has not been signed because details of the possible deal are being worked out, Swanson said. The building is just a shell so renovations are necessary to accommodate to any business that would move in. The port authority looked to the state to fund the improvements.

The York and Dover township trustees also have an impact on whatever happens regarding the building. The building is located in both townships so the trustees must approve any tax abatement, said York Township Trustee Jim Pancake.

The company has requested a 60 percent tax abatement on the building and grounds. But the leasee would still pay an inventory tax, Pancake said. The York Township trustees have already voted to approve the abatement.

Both Swanson and Pancake said they have been skeptical about releasing information because they do not want to announce anything before it is final.

“We’ve cried wolf a couple of times before when we thought we had a purchaser for the spec building,” Pancake said.

Pancake said in the past environmental groups interfered when a company has shown interest and their name has been released.

An additional 40 jobs would be created over the next three years if the company moves into the building, said County Commissioner Mark Sullivan last week.

“We’re really grateful for the jobs,” Pancake said about the prospective deal.