Former Kroger bakery near downtown Columbus could become apartments

Three developers are working on a joint venture to turn the former Kroger bakery building on the north end of downtown Columbus into 448 apartment units as part of a mixed-use development, NBC4i.com reports. A joint venture of Casto, Kelley Companies and The Robert Weiler Company “bought the property for $8.15 million” after Kroger closed the bakery, with plans to restore the two existing buildings, which are almost 100 years old, and add three more apartment buildings, according to the article. The project would also include restaurant and retail space, as well as outdoor amenities. The developers said they expect renovations would need Ohio Historic Preservation Tax Credits. For more, read the full article.

Economic Development, Financial Incentives, State Updates

Bricker & Eckler to present American Rescue Plan Act of 2021 webinar for Toledo Regional Chamber of Commerce

Bricker & Eckler will present a free webinar, "American Rescue Plan Act of 2021 (ARPA) Impact on Local Governments and Small Businesses," for the Toledo Regional Chamber of Commerce, Tuesday, April 20, at 2:00 p.m. EDT. The American Rescue Plan Act was signed into law on March 11, 2021. Many Americans have already begun receiving their “stimmies” - one of the most well-known aspects of the stimulus package. For the lesser known provisions – including large sums to be paid to local governments and small businesses - Bricker attorneys Jeff Harris, Jackie Lewis and Brooke Mangiarelli will provide an overview presentation and take questions from attendees. The webinar is open to Chamber members and non-members alike. Register here >>

Economic Development, Federal Updates, Financial Incentives, Project Finance

West Jefferson expands CRA to two additional properties

West Jefferson Village Council recently added a 2.4-acre parcel on Enterprise Parkway and a 180-acre property along U.S. Route 40 to a Community Reinvestment Area (CRA) agreement that provides a 100 percent property tax exemption for the next 10 years, the Messenger reports. Core 5 Industrial Partners “plans to build three buildings on the 180-acre property” and also “plans to extend U.S Route 29 to the end of their property,” according to the article. Core 5 recently purchased a property already covered by the CRA and adjacent to the 2.4-acre property; extending the CRA “allows Core 5 to expand into the area.” For more, read the full article.

Economic Development, Financial Incentives, State Updates

Historic Cleveland building redevelopment awarded $1.5M tax incentive

Cleveland City Council and Mayor Frank Johnson approved “a tax incentive package valued at more than $1.5 million” for the $13 million redevelopment of the historic Western Reserve Building downtown, Cleveland.com reports. The project is expected to bring 85 new jobs into the building, preserve 90 existing jobs, and bring the occupancy rate up from about 50 percent to about 90 percent, according to the article. The tax incentives will not affect tax revenues for Cleveland schools; increases in property tax “are expected to generate about $76,600 a year for Cleveland schools,” while the city expects to collect “about $117,500 a year in new income taxes.” For more, read the full article.

Economic Development, Financial Incentives, State Updates

Columbus City Council considers incentives for $300M data center on south side

A speculative build $300 million data center “on the scale of those that Google, Facebook and Amazon are building around Central Ohio” could begin construction on the Hartman Farms site on the Far South Side of Columbus this summer, Columbus Business First reports. Columbus City Council is considering “a 15-year 100% abatement of property taxes,” saving the operator $54.3 million over the life of the agreement “while netting $750,000 in new income taxes for the city,” according to the article. The operator negotiated an annual payment of at least $600,000 to Hamilton Local School District in lieu of its share of property tax. For more, read the full article.

Economic Development, Financial Incentives, State Updates

Bricker & Eckler attorneys to present as part of March 25 Ohio Energy and Electric Utility Regulation Seminar

Six Bricker & Eckler attorneys will be featured as part of HalfMoon Education's live, interactive webinar, "Issues in Ohio Energy and Electric Utility Regulation," Thursday, March 25. Devin Parram and Elyse Akhbari will present "Ohio Power Siting Board" (overview, rulemaking, growth in utility scale solar), while Dylan Borchers and Colin Kalvas will present "Distributed Solar" (overview of options for self-generation, how to achieve green energy, resiliency and financing goals, and PACE financing), and Christy Rideout Schirra, Akhbari, and Chris Furey will lead a discussion on "Utility Scale Solar Projects: Environmental and Real Estate Considerations" (environmental due diligence and permiting considerations, and developing brownfields for solar projects). For more information, visit the registration page.

Economic Development, Energy Efficiency, Environmental, Financial Incentives, Renewable Energy, Solar

Macy’s awarded state tax credit for $30M expansion in Jackson Township

The Ohio Tax Credit Authority approved a 1.472% Job Creation Tax Credit for Macy’s Corporate Services LLC for a “nearly $30 million potential expansion at its Jackson Township fulfillment center,” The Business Journal reports. That investment “would result in the creation of 417 full-time equivalent positions with annual payroll of $16,775,000 by Dec. 31, 2023, and retain 55 positions paying $2.1 million annually,” according to the article. Walt Good, managing director of Team NEO, the regional economic development agency, said the tax incentive was “a major factor for the company moving forward in Ohio” due to out-of-state competition. For more, read the full article.

Economic Development, Financial Incentives, State Updates

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

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

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
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