By Joshua Benton
Blade Staff Writer
HCR ManorCare, Inc., finally might get the go-ahead tonight to move into the Summit Center.
The council is expected to approve the development agreement that will move the newly merged nursing home giant into the 16-story downtown building.
The city will contribute a $1.5 million grant to the project, joining $500,000 from the state and a $7 million state loan.
Toledo’s Health Care and Retirement Corp. and Maryland’s Manor Care, Inc., merged last year, creating Toledo’s fourth largest company. The combined firm will move into the Summit Center, retaining 318 jobs and creating 200.
HCR officials plan to close the deal this week, so Barry Broome, the city’s development director, asked council to expedite approval.
Under the agreement, the Toledo-Lucas County Port Authority will become the owner of the building for the next 10 years, after which HCR will have an option to purchase it.
The council is expected to approve a personal property tax exemption worth $232,000 to the company over 10 years. HCR will only be required to pay about $190,000 to the Toledo Public Schools over that period, a 55 per cent reduction in its tax bill.
On the council’s agenda is a $300,000 payment to HCR to help pay for additional parking in downtown Toledo, but the council is expected to refer the matter to its finance committee.
Also on the council’s agenda for today’s 4 p.m. meeting is legislation authorizing the use of eminent domain proceedings against three homeowners in North Toledo. The three are the final holdouts in the city’s Jeep plant land purchases. Council members said they hold out hope that agreements with the landowners can be reached before the use of eminent domain becomes necessary.