City focuses on property plans

City now focuses on finalizing conceptual plans for recently purchased properties

After taking steps to buy both the Tipp Plaza property and 60 acres of undeveloped land west of Interstate 75 in the past six months, the city isn’t looking at writing checks for more land.

“Our current focus is on finalizing conceptual plans for both the Long property and Tipp Plaza. Once those plans are ready, we will share them with the public and begin the necessary steps to carry out these plans,” said City Manager Eric Mack.

The most recent purchase in the works is the Long property located at County Road 25A and West Main Street. The city was approached by the Long Family Trust about that deal, Mack said. The cost approved by council was $2.2 million.

“Discussions regarding the 60-acre property began last November, when the trustee of the Long Family Trust approached the City. Their intent was to ensure that, when sold, the property would be developed in a way that best serves the long-term interests of Tipp City,” he said. “Due to the below-market asking price for the property, paired with the city’s ongoing goal of attracting a grocery store, city staff and City Council felt this was a strategic opportunity that would provide significant value to the community.”

The Tipp Plaza property was bought earlier this year after city officials and council for years heard complaints about the condition of the property, vacancies and overall lack of upkeep by out-of-state owners. That property is south of West Main Street along Garber and Tippecanoe drives. The cost was $6.95 million.

The city refers to the area in which both properties are located as the uptown area. “I see these two projects as bookends to the uptown area,” Mack said. The city has hired Woodard Development of Dayton to work with it on land purchase, management and planning for development.

“While both properties are critical to our redevelopment efforts, the Long property is much better suited for a large anchor tenant, such as a grocery store. That type of development typically requires 15–20 acres to accommodate the building and associated parking. Tipp Plaza simply does not have that amount of available space,” Mack said. The Long property does not have water or sewer on site, utilities that would be needed before site development.

While there are no guarantees when it comes to development, both the city and Woodard have had what they consider “productive” talks with potential large anchor tenants. The discussions have led them to believe attracting a grocery store is a realistic goal, Mack said.

The land purchases have used money from the city's general fund and other sources. The Plaza property and Long property will reduce the unencumbered fund balance to around $3.55 million, said John Green, city finance director. The city reserve policy calls for a balance of at least 25 percent of the annual operating costs, or $3.15 million for 2025. 

In addition to the Plaza and Long properties, the city bought the former greenhouse site south of Main Street and west of Interstate 75 in 2023. The greenhouse has been removed as part of the property clean up. No plans for the property have been discussed.

The properties were the focus of discussion at the May meeting of the Community Improvement Corporation.

Among efforts so far have been the removal this month of the former Burger King building on the Tipp Plaza property. That building was constructed in 1986, and its demolition provides a cleared site for development, said Matt Spring, city development director.

The city also is talking with the Tipp City schools on developing a Tax Increment Financing zone, or TIF, to help pay for projects in the development zone. The TIF debt is later paid through increased property taxes generated by the redevelopment.

The city has worked on the Plaza property over the past few months including doing some landscaping and building roof and electrical repairs, Mack said, adding, “I think it looks a lot better than it did six months ago.”