Developing former AEP plant could benefit Fort Frye school district

Jesse Roush, Executive Director of the Southeastern Ohio Port Authority, recently spoke to the Fort Frye Local Schools Board of Education regarding a two-year, 100 percent tax abatement request for the former American Electric Power (AEP) Muskingum River Power Plant, The Marietta Times reports. Roush said the abatement was not meant to attract businesses, but to help get the redevelopment off the ground, estimating it will take about two years “to actually land a project” that “starts to pay their own real estate taxes,” according to the article. Fort Frye Superintendent Stephanie Starcher “said it is important the school district pursue economic development in the region” as it benefits the community and is a “source of tax for the district as well.” For more, read the full article.

Economic Development, Financial Incentives, State Updates

New website promotes Clinton County economic development opportunities

The Clinton County Port Authority (CCPA) has launched a new website dedicated to economic development opportunities “to further strengthen its online presence and the economic growth of the community,” according to a recent News Journal article. The website, chooseclintoncountyoh.org, “includes county-wide data, information specifically collected for site selectors, and local business resources to serve as a one-stop shop for companies considering new investment or expansion in Clinton County,” according to the article. For more, read the full article.

Economic Development, State Updates

Proposed 108-MW Licking County solar field would power Amazon, Google, Facebook

Union Ridge Solar announced plans to construct a 500-acre solar field in Licking County near the American Electric Power (AEP) Kirk substation, a development that could power large data centers and “provide a financial windfall for property tax recipients,” The Columbus Dispatch reports. Union Ridge “would pay a flat fee of [at] least $753,000 annually for 30 years, or $22.6 million, if the project receives the state and local approvals for the Qualified Energy Tax Exemption Program,” according to the article. Licking County Commissioner Tim Bubb said, “Facebook, Amazon and Google all want to buy green energy from the grid,” and that county commissioners are “inclined to be positive toward this potential opportunity.” For more, read the full article.

Economic Development, Financial Incentives, Renewable Energy, Solar, State Updates

Developer will invest up to $75M to transform former DP&L plant into “economic powerhouse”

The Frontier Group of Companies “has big plans” for the former DP&L Hutchings Station property in Miami Township and hopes to “make the location into the viable, job producing site it once was — albeit with a broader mix of uses and opportunities for investment,” the Dayton Business Journal reports. Frontier Business Development Director Pat Ford said the total investment for the planned mixed-use commercial development that will center around “manufacturing/industrial, residential and recreational uses” could “range between $50 million and $75 million,” according to the article. Solar energy “will be a big component” of the former coal-fired power plant site “as it transforms from an industrial brownfield into a green energy facility.” For more, read the full article.

Economic Development, Renewable Energy, State Updates

Cincinnati City Council looks at creating project scorecard to award incentives

The recent “battle” at Cincinnati City Hall over whether an $80 million Over-the-Rhine development project had to include affordable housing demonstrated the need for more clarity on the city’s priorities when considering financial incentives for real estate developments, wcpo.com reports. City Councilman Greg Landsman proposed a scorecard that would outline a project’s attributes “such as affordable housing, neighborhood input, inclusive contracting or local hiring” to help the council decide “whether a development project gets assistance from the city,” according to the article. The Council’s Budget and Finance Committee asked for further refinement to the proposed scorecard. For more, read the full article.

Economic Development, Financial Incentives, State Updates

Anchor tenants move into the Dayton Arcade, “breathing new life” into historic property

As the Dayton Arcade’s anchor tenants are moving in, soon to be joined by new residents, the arcade’s main developer “revealed plans for a new hotel in the north part of the complex,” the Dayton Daily News reports. The Dayton Innovation Hub, “a joint venture between the University of Dayton and The Entrepreneurs Center, is the anchor tenant of the nine-building complex,” according to the article. The hub “will allow hundreds of college students, faculty members and staff to work collaboratively with local small businesses, start-ups and entrepreneurs.” Other planned tenants include retail, restaurants, a visual arts organization and a local payroll company. Montgomery County Commissioner Carolyn Rice said the revitalized arcade “will be transformational for the community.” For more, read the full article.

Economic Development, State Updates

Golden Bear Shopping Center $56M redevelopment will proceed, follow original plans

Arcadia Development of Ohio has agreed to revert to the original plans for the $56 million redevelopment of the Golden Bear Shopping Center in Upper Arlington, after the city “balked at” the developer’s request to “cut out the office space” in favor of more residential units, Columbus Business First reports. City Manager Steve Schoeny said “the city wouldn’t see a tax revenue benefit from the development without office space,” which “stalled any agreement on Tax Increment Financing that would be a cornerstone of the project’s financing,” according to the article. The original plans called for 20,000 square feet of retail space, 24,000 square feet of office space, and 79 condominiums. For more, read the full article.

Economic Development, Financial Incentives, State Updates

Toledo officials working to position former mall property for redevelopment

City officials in Toledo are moving to position the former North Towne Square Mall property, which has been vacant for 16 years, for redevelopment to get the land “back into productive use,” The Toledo Blade reports. The Kapszukiewicz administration proposed ordinances to city council to “spur the site’s redevelopment,” including an ordinance that would authorize the sale of 11 acres in exchange for the release of cross-section easements. The other proposed ordinance would authorize tax-increment financing for the remaining 58 acres, so that increases in property taxes from future development would fund infrastructure improvements. For more, read the full article.

Economic Development, Financial Incentives, State Updates

Columbus-Franklin County Finance Authority’s 2020 was success despite pandemic

Despite the “chaos and uncertainty” of the COVID-19 pandemic and resulting economic slowdown, the Columbus-Franklin County Finance Authority (CFFA) said in a recent news release that the organization’s “transaction level remained strong” in 2020. The Finance Authority “was involved in 23 transactions representing more than $291 million in development financing and loans,” with projects including Grandview Crossing, Dublin’s Bridge Park, and The Peninsula in Franklinton. The Finance Authority also introduced its new Neighborhood Improvement and Small Business Loan program and supported the Columbus Regional Energy Special Improvement District (ESID). For more, read the full news release.

Economic Development, Project Finance, State Updates

Greenfield selected for economic development opportunity

The City of Greenfield “has been awarded an opportunity to not only further economic development in the village, but development in the industrial park” as one of five communities in a 25-county region selected for the Prepared Communities Program, The Times-Gazette reports. That program, through OhioSE and Bricker & Eckler, provides six hours of free virtual economic development planning assistance to selected communities. City Manager Todd Wilkin called Bricker & Eckler the “gold standard in economic development stimulation,” and said the city is excited to work with the Columbus-based law firm and OhioSE, according to the article. For more, read the full article.

Economic Development, State Updates
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