City officials to consider tax abatement for Youngstown business

YOUNGSTOWN — An electrical contracting company is seeking a tax abatement from the city to build a 3,700-square-foot warehouse building.

Gulu Electrical Contractors Inc., through Crescent Street Properties LLC, its property entity, is seeking a 75 percent, 10-year real-property tax abatement to build a warehouse at its location, 1295 Crescent St.

The warehouse would take about two months to build and create two full-time jobs, according to the company’s written request for the tax break. It would cost between $90,000 and $110,000 to build the structure.

City council will consider the abatement at its meeting Wednesday.

The city’s board of control — consisting of Mayor Jay Williams, Finance Director David Bozanich and Law Director Iris Torres Guglucello — as well as the Ohio Department of Development also has to approve the request.

If the abatement is approved, Gulu would save $18,034 and pay $6,011 in property taxes over a 10-year period.

For the complete story, read Wednesday’s Vindicator or Vindy.com