Owner of prospective additional new spa in Troy requests TIF funding
By Charles Bolinger
Editor • One of the topics at the Troy finance and economic development committee on May 4 was a preliminary tax-increment financing (TIF) request for a new spa in town. No vote was taken on the matter by the committee.
City Administrator Jay Keeven told the committee he has no written agreement and hasn’t worked through the request yet with City Attorney Fred Keck.
Anna Jones, who also owns Salt Wellness Spa and BeLong Luxury Salon on East Market Street, bought the building at 121-123 East Market Street. The site used to house an art studio, and before that, a doctor’s office. Those two addresses are attached to a third address.
“121 and 123 are one parcel, so she is making a TIF request for the commercial side of the building, so 121, which was the art studio, is what she plans to improve by putting in this spa,” Keeven said. “Right now, it’s a shell; there’s nothing in there.”
The prospective site itself would be 20-feet-wide by 40-feet-long. From the front, where there is the main entry and a waiting area, a 48-inch-wide hallway would lead customers and employees through the rest of the space. The site would also feature two Japanese Head Spa rooms (11’ x 10’ each) with removable curtain; one private massage room (9’ x 12’); one couple’s massage room (13’ x 12’); a private hallway; a restroom, laundry and spray tan rooms in one corner; and the aforementioned waiting area (18’ x 8’) in front.
The literature claims it would be optimized for comfort, function and ambiance.
Jones said opening this new spa is an expansion move for her as she has had to put equipment in the basement of the nearby Moonbird Yoga on South Main Street.
“Everything I’m trying to put in this new building is in the basement at Moonberg and it’s just not ideal for us. We are very busy. We just need more space for what we’re doing.”
She said the Japanese Head Spa is their busiest service aside from massages.
“What I’m trying to do is create a couples’ experience. A lot of people want to go with their significant other.”
Per an invoice from BEK Construction, a general contractor out of Lebanon, the new spa’s total is $110,278.39. The invoice covers demolition, framing, plumbing and flooring installation, drywall, electrical, finishes and roof repairs as needed.
She said she believes the building’s flat rubber roof just needs to be patched. She plans to have a large, illuminated sign installed out front and add lighting to the front exterior.
She requested a 15% increment, or $16,542. Keeven said that would not be outside the norm for the city’s downtown TIF district but he said the only money available from the increment is what they’ve discussed. Currently, the site is tax assessed at $5,737, Keeven said. Once improvements are made, the tax assessment would rise.
Keeven cautioned there would not be a lot in the way of sales tax, even though salons sell some products. He advised the committee that it would not be the same as a restaurant.
He cited the spa would help beautify the downtown area. Keeven said he would meet with City Attorney Fred Keck to draft a redevelopment agreement based on direction from the committee.
He said the first payment would show up in the next fiscal year, which doesn’t start until May 1, 2027. The TIF could last for 17 or 18 years before sunsetting.
Committee chair Nathan Henderson first asked the other committee members if they objected to the increment. No one did. His proposal was to set it up to 15%, limited to the amount of the bid in case there’s any overages.
Keeven said he would work the proposal so that it would read up to $16,542 or 15%, whichever is less.
This could return for a vote as early as the next city council meeting, which is May 18 at 6:30 p.m. in city hall, located at 116 E. Market Street.
