BOWLING GREEN - Wood County commissioners approved a tax abatement yesterday for a downtown Toledo financial planning firm that plans to move its offices to Coventry Woods Executive Park in Perrysburg Township.
The deal almost did not take place because trustees initially could not agree on whether the project should qualify for an abatement. Township trustees approved the abatement Monday after Butler Capital Advisors agreed to reimburse the township $32,920, its share of property taxes over the life of the 10-year, 100 percent abatement.
Butler Capital is building a $1.11 million, 11,000-square-foot office building and plans to add two employees and move eight employees from its current location.
The company agreed to pay Perrysburg schools $4,870 a year for 10 years and give Penta Career Center a one-time payment of $4,200. County Administrator Andrew Kalmar said the county will lose about $4,655 a year in property taxes because of the abatement.