Dayton sees $1.5B in investment over last decade

Despite the COVID-19 pandemic’s effect on the economy, downtown Dayton “saw a healthy dose of investment this year and 2021 is shaping up to be even better,” the Dayton Daily News reports. The downtown area has seen a total of about $1.5 billion in private and public investment over the past decade. “About $90 million was invested in the greater downtown area this year” and more than $245 million in projects are currently underway, with “another $205 million” in the design and early development stage, according to the article. Projects completed this year include “the $18 million renovation of the Dayton Motor Car building” and “the roughly $20 million redevelopment of the Elks and Huffman Block buildings.” For more, read the full article.

Economic Development, State Updates

New legislation could impact compensation for joint vocational school districts in enterprise zones

A new legislative proposal may impact the amount of compensation that must be paid to joint vocational school districts located in enterprise zones. Currently, when a legislative authority and a board of education enter into an agreement to compensate the city, local, or exempted village school district for all or part of the taxes exempted due to an enterprise zone tax exemption, the terms of the compensation agreement do not automatically affect any joint vocational school districts within the enterprise zone. Under the new language contained in S.B. 89, if a city, local, or exempted village school district negotiates such a compensation agreement, then any joint vocational school district located in the enterprise zone must also receive similar compensation. Specifically, this requires that the joint vocational school district receive the same rate of compensation under the same terms that the relevant school district receives under the compensation agreement. This change would apply to enterprise zones designated by municipal corporations as well as those designated by counties. To see the full text of S.B. 89, please click here.

Economic Development, Financial Incentives, State Updates

Hillsboro economic development and parks projects moving forward

The city of Hillsboro “is continuing forward with its parks projects and economic development plans” including a Marriott Hotel project and the sale of the former Parker Hotel lot, The Times-Gazette reports. The city’s tax increment financing (TIF) attorney, Richard Spoor, “is preparing an agreement for the infrastructure project” for the Marriott Hotel construction, according to the article. Brianne Abbott, safety and service director, said “the former Parker Hotel lot and the old firehouse on Governor Trimble Place will be for sale in the near future.” The city recently created an economic development department to attract and retain businesses by connecting business owners with funding and additional resources. Parks projects, including the installation of disc golf baskets in Liberty Park, will continue this winter as well. For more, read the full article.

Economic Development, Financial Incentives, State Updates

Team NEO names four business executives as new board members

JobsOhio partner Team NEO has appointed four business executives as new members of its board of directors, Crain’s Cleveland reports. The new board members are Terrell Dillard, president of JanPro Northeast Ohio; Neal Grode, executive director for UnitedHealthcare’s Northern Ohio market; Ariane Kirkpatrick, president and CEO of The AKA Team; and Allen J. Mistysyn, senior vice president, finance and CFO for Sherwin-Williams, according to the article. CEO of Team NEO Bill Koehler said, “[t]hese influential leaders bring fresh perspectives that will help us uncover new business development opportunities, address challenges head-on and help Team NEO facilitate equitable personal and regional economic growth across Northeast Ohio.” For more, read the full article.

Economic Development, State Updates

Euclid to create community development corporation

City officials in Euclid are moving forward on a plan "to contract with a strategy and communications consulting firm to create a community development corporation [CDC] for the city,” The News-Herald reports. Council member Kristian Jarosz said members of the Business Development, City Planning and Housing Committee have looked at CDCs in the area, including Lakewood Alive and Future Heights in Cleveland Heights, and they want to institute a similar citizen-driven program for Euclid, according to the article. Strategy Design Partners will help “develop an overall plan and gauge what the local needs are through community surveys, stakeholder interviews, and focus groups.” For more, read the full article.

Economic Development, State Updates

New Franklin County solar farm will supply energy to AEP

American Electric Power affiliate AEP Energy Partners “is finalizing a long-term power purchase agreement [PPA] with New York-based BQ Energy Development LLC for 100% of the 50 megawatts of power that will be generated at the new solar farm it is building at the former Model Landfill site,” Columbus Business First reports. The solar farm will generate enough energy to power 5,000 homes, which AEP Energy will use to meet “both customer demand for renewable energy and future renewable energy needs” from Columbus’s recently passed citywide electric aggregation program proposal, according to the article. Greg Hall, president of AEP Energy, called converting the former landfill to a solar facility a “win-win for the environment and Central Ohio.” For more, read the full article.

Environmental, Renewable Energy, State Updates

Hillsboro farm goes solar with 60-panel rooftop installation

The Rhoads family farm east of Hillsboro is harvesting sunlight to power farm operations, including two houses and a barn, through 60 rooftop solar panels installed on the barn, The Highland County Press reports. Rich Rhoads said the family worked with a company that finances the system for 20 years and also help clients increase energy efficiency through attic insulation, attic solar fans, water-heater insulation and LED light bulbs, according to the article. Rhoads “also pointed out that the federal government offers a tax credit for homeowners switching to solar energy, to help offset some of the costs.” Rhoads said the family believes helping the environment and potentially saving money in the long term is a “win-win.” For more, read the full article.

Energy Efficiency, Environmental, Financial Incentives, Renewable Energy

Franklin approves abatement for manufacturer’s $4M expansion

Franklin City Council recently approved “a 15-year Community Reinvestment Act tax abatement” for Sunstar Engineering Americas Inc.’s $4 million investment in a 40,000-square-foot expansion to its Warren County facility, the Hamilton Journal-News reports. Sunstar plans to create 15 additional full-time jobs, and “has plans of adding another 40,000-square-foot building in two or three years” and moving all operations including its North American headquarters to the site, according to the article. For more, read the full article.

Economic Development, Financial Incentives, State Updates

AEP signs PPA for planned 200-MW Pickaway County solar project

A planned 600,000 solar panel project that will generate 200 megawatts (MW) of output in Pickaway County when complete has a signed long-term power purchase agreement (PPA) from AEP Energy Partners, a subsidiary of American Electric Power, MarketWatch reports. Atlanta Farms Solar Project will contribute renewable energy to the City of Columbus’s aggregation program that was approved on the November 2020 ballot, according to the article. Greg Hall, AEP Energy president, said, “AEP Energy is focused on providing customers with integrated, carbon-free energy supplies that deliver long-term price stability and environmental benefits.” For more, read the full article.

Renewable Energy, State Updates

Webinar: Revitalize Blighted Properties With Land Banks

Bricker & Eckler attorneys Jeff Harris and Ty Compton, and Cuyahoga Land Bank President and General Counsel, Gus Frangos, will present a webinar, Thursday, November 19, 1:00-2:30 p.m. EST. Designed to inform developers how to drive stabilization, revitalization and economic growth in communities, this webinar will feature best practices for land bank programs.

Land banks are proven tools to remove blighted structures and acquire problem properties in post-industrial legacy cities and neighborhoods across the U.S. The process of land banking – whereby quasi-governmental entities acquire and manage properties that are tax delinquent and unoccupied, striving to return them to the open market – is getting a closer look as a possible response to the COVID-19 public health emergency. This presentation will review the national land bank movement and undertake a critical assessment of the Ohio land banking model.

For more information or to register, please click here.

Economic Development, Financial Incentives, Project Finance
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