PACE — A shopping center including a sporting goods, cosmetics and arts and crafts retailer could come to Pace by 2018.
Birmingham, Ala.-based developer, Blackwater Resources wants to bring the three retailers to property between Ridge Cinema and Home Depot under the name Project Crossroads. The decision hinges on the Santa Rosa County board of county commissioners amending an ordinance Thursday, Dec. 8, incentivizing the developer to do so.
THE AMENDMENT
Santa Rosa County Economic Development Director Shannon Ogletree brought the amendment to the board in October; he's been working on this project since May.
The current ordinance offers rebates to companies locating in Santa Rosa County generating at least half of their income outside the area and offering high-paying jobs within the county.
The amendment would offer five years of rebates to developers investing $10 million, with two national retailers, located on at least 20,000 square feet. Rebates go up to eight years when the developer invests $20 million with four national retailers on 40,000 square feet of property. Rebates begin after the first full year of at least half of the shopping center being open for business.
The rebate consists of the estimated county tax collected over the first five years. The sales tax and the school tax remain unchanged. According to Ogletree, the rebate amount to Blackwater Resources would be $393,372.51 while the estimated net gain in tax over the first five years would be $1,147,865.49. Ogletree said the county does still collect the baseline tax of $8,682.89 annually for the first five years.
Ogletree said the county has never incentivized retail before. This amendment makes the project possible, he said.
Commissioner Rob Williamson said the county would not pay incentives to the company until it meets certain metrics, like tax revenue and jobs.
'THE CIRCLE OF LIFE'
What's residents’ incentive? Aside from adding 100 jobs, Ogletree said this would be an opportunity for shoppers to stay in Santa Rosa County, burn less gas and spend less time in traffic.
The project already means hope for more retail development in the south end of the county, where Ogletree said another developer is waiting to see what happens Thursday to move forward.
This development is an indirect result of the population boom in Santa Rosa County over the past 15 years, according to Ogletree. National census numbers show in 2000 Santa Rosa County’s population was at 117,743 and in 2015, that number rose to 167,040. Retailers are attracted to the greater number of shoppers.
However, for more industry to come to Santa Rosa County, the area needs workforce in other regions. Right now, Ogletree said the population boom is primarily in Pace and Navarre. A company was considering locating a call center in East Milton, but decided the area had an insufficient population to meet its workforce needs, according to Ogletree. However, he said he's still working with the company to find a solution.
Ogletree described Project Crossroads as part of "the circle of life." He said the population increase attracted the retail project, which is in turn an attractive element to industry and attracts more people to the county.
This article originally appeared on Santa Rosa Press Gazette: Shopping center proposed for Pace