Council approves incentive for builder's headquarters

The Port Orange City Council has approved a plan to refund Olsen Custom Homes $23, 000 in return for a $2 million investment in the city. Olsen Custom Homes & Consulting Inc. has requested financial assistance from the city in the form of a refund/waiver of development fees through the city's Targeted Business Program related to the development of its headquarters facility. The new Olsen Custom Homes facility will be at 3450 Ridgewood Ave. in the Riverwalk District of the Port Orange Town Center Community Redevelopment Area.

The development will include a 5, 233-square-foot building for Olsen that includes offices and a custom home design center and a 4, 800-square-foot multi-tenant professional office building. Port Orange Mayor Donald Burnette is delighted. "I couldn't be happier that Eric and his team at Olsen homes are investing in building in our city in our redevelopment zone on the east side of town," the mayor said. "Continued redevelopment in the River District is essential for re-nourishing the area and creating the dollars to help continued improvement in infrastructure and beautification. They are a terrific addition to our Ridgewood Avenue corridor and I welcome them with open arms. The CRA plan states that incentives may be provided through the process described in the city's Land Development Code, Chapter 20-Economic Development Incentives.

The purpose of the incentives identified in the LDC is to promote positive forms of new development and redevelopment; reward the creation and retention of value-added jobs; attract targeted businesses; revitalize the Port Orange Town Center and Eastport Business Center redevelopment areas; increase the nonresidential tax-baseand foster a diverse employment base within the city. The Targeted Business Program was created to aid business ventures to aid in attracting operations within the city, aid in enhancing and/ or expanding operations in the city or aid in relocating operations to viable property within the city. According to the request letter, Olsen Custom Homes is in Daytona Beach but is relocating the business to Port Orange.

According to the applicant's letters of request, Olsen Custom Homes is making a $2 million investment in the city with the two-building complex. When fully operational, Olsen's offices will employ up to 21 individuals. Mr. Olsen could not be reached for comment. The grant will cover building permit fees of up to $13, 605. Olsen Custom Homes agrees to provide the city with receipts of the actual costs incurred. Upon Olsen's submittal of future building permit application for additional improvements to the site, the city agrees to waive building permit fees up to the amount of $9, 394. The grant shall not be considered a waiver of impact fees or utility connection fees, nor shall it be applied to impact fees or utility connection fees due and owing by Olsen Custom Homes. Construction is set to begin later this year.