New mixed-used Weston development to replace dormant Westland Mall

A “major hurdle” to transforming the “long-dormant” Westland Mall property has been cleared, as LGR Weston recently purchased “the Sears portion of the mall,” The Columbus Dispatch reports. That “$3.15 million purchase gives LGR and its sister company, Plaza Properties, control of the entire 88-acre mall site,” allowing them to move forward with plans to redevelop the property, according to the article. Developers plan to demolish the 1-million-square-foot mall and replace it with “a mixed-use development, ‘complementary’ to Hollywood Casino across Georgesville Road to the east.” For more, read the full article.

Economic Development, State Updates

Bexley says CRA could fund Mayfield Place remediation and remodel

Bexley City Council is considering a Community Reinvestment Area (CRA) agreement that “would enable a private developer to environmentally remediate and remodel an apartment complex” in southwest Bexley, according to Mayor Ben Kessler, ThisWeek Community News reports. Ordinance 12-19, if approved, would allow “for a 100 percent, 15-year tax abatement on the new improvements” to Mayfield Place, according to the article. The legislation states that the developer “would undertake environmental remediation of contaminated soil at the Mayfield Place in accordance with the Ohio Environmental Protection Agency’s Voluntary Action Plan.” Council member Richard Sharp noted the city would not abate current taxes, but “future improvement and value.” For more, read the full article.

Economic Development, Environmental, Financial Incentives, Project Finance

Bricker & Eckler becomes first Ohio law firm with EV charging station

Bricker & Eckler is the first law firm in the state to install an electric vehicle charging station on its property. The firm’s EV charging station, deployed by ChargePoint, will be located among several parking spaces at the rear of the building. Employees, as well as client guests, will be permitted to use the station during business hours. Outside of regular business hours and on weekends, the station will be available for public use. The installation of Bricker & Eckler’s EV charging station is scheduled for Summer 2019 and will be operational shortly after. Read more >>

Economic Development, Renewable Energy, Smart Cities

Brecksville considers TIF for mixed-use project

The City of Brecksville is considering a TIF agreement to help finance the mixed-use Valor Acres development project proposed for the former U.S. Department of Veterans Affairs Brecksville hospital site, Cleveland.com reports. The 103-acre Valor Acres “may include stores, restaurants, apartments, hotels, hospitals, manufacturing plants, offices and-or laboratories,” according to the article. New property taxes generated from the development would fund infrastructure improvements; Mayor Jerry Hruby said in an email to Cleveland.com, “[w]e believe (a TIF) is the best option to develop the (Valor Acres) property and the area infrastructure.” Brecksville-Broadview Heights schools would not lose any existing property taxes under the TIF. For more, read the full article.

Economic Development, Financial Incentives, Project Finance, State Updates

Ohio ranked third in 12-state Midwest region for clean energy jobs

Analysis by the Clean Energy Trust and nonpartisan Environmental Entrepreneurs (E2) shows “more than 112,000 Ohioans work in clean energy industries,” with 4,975 jobs added in the last year, according to a recent article in The Daily Reporter. Clean energy jobs now “make up 2.1 percent of all jobs in Ohio” according to Clean Jobs Midwest, the article reports. Energy efficiency led all clean energy sectors in the state, “employing 81,676 workers — accounting for seven in 10 of all clean energy workers.” Micaela Preskill, E2 Midwest states advocate, said the 2019 U.S. Energy & Employment Report “clearly proves that clean energy in the Midwest is not just a trend, it is driving economic growth and opportunities across the region.” For more, read the full article (subscription required), or click here for the report.

Economic Development, Energy Efficiency, Environmental, State Updates

Kettering Business Park growth brings job numbers back up

Recent growth from companies including Amazon, Alternate Solutions Health Network and Kettering Health Network in the Kettering Business Park “has helped offset a couple thousand jobs lost” from Air Force consolidation, the Dayton Daily News reports. A “planned Amazon ‘last-mile’ distribution center” is expected to bring at least 300 full-time equivalent jobs by the end of 2021, according to the article. Kettering Health Network’s new $10-million operations command center could house another 300 employees when fully operational. Kettering-based Alternate Solutions Health Network purchased a 200,000-square-foot facility that “will allow a projected growth in employment of more than 340 jobs in the next five years.” For more, read the full article.

Economic Development, State Updates

Medina looking to create ESID to enable PACE financing

An Energy Special Improvement District (ESID) could be up and running in Medina by the summer, allowing businesses to use Property Assessed Clean Energy (PACE) financing, The Gazette reports. Medina Economic Development Director Kimberly Marshall and Medina County Economic Development Corp. Executive Director Bethany Dentler have been working on creating an ESID board “that would oversee projects funded through a PACE lender,” according to the article. Marshall “said she’s been approached by a couple of businesses interested in PACE financing,” and Dentler said PACE financing is “gaining popularity in the state of Ohio. . . . We want to use this tool.” For more, read the full article.

Economic Development, Project Finance, State Updates

Historic Dayton Arcade revitalization project is underway

With this week’s financial closings, the historic Dayton Arcade revitalization project is underway. For more, read the full article

Economic Development, Financial Incentives, Project Finance, Renewable Energy

Two Cleveland development projects will generate combined $4.2M in annual payroll

Cleveland City Council approved development agreements for two companies bringing an expected 60 jobs totaling approximately $4.2 million in annual payroll into the city, Cleveland.com reports. A 10-year, 60-percent tax abatement on property improvements will allow Northern Stamping, Inc. “to expand its operations at a site on Harvard Avenue,” adding 28 jobs at an estimated annual payroll of nearly $1.4 million, according to the article. Dynamic Metal Services will consolidate operations “into a 280,000-square-foot building on Euclid Avenue,” bringing 30 jobs to the city. City Council granted the company a “10-year, 30-percent tax abatement on the site improvements.” For more, read the full article

 

Economic Development, Financial Incentives, State Updates

Approval from city “sets stage” for Dayton Arcade’s financial close

The Dayton City Commission unanimously approved seven ordinances and two resolutions for the Dayton Arcade redevelopment, “setting the stage for the project’s much anticipated financial close,” the Dayton Business Journal reports. The commission approved authorizing the city manager to enter into Community Reinvestment Area (CRA) tax abatement agreements with Dayton Rotunda Commerical LLC and South Arcade Commerical LLC, “providing real property tax incentives to the project in accordance with the city’s agreement with Dayton Public Schools,” according to the article. Additionally, the commission approved “the petition and supplemental plan for special energy improvement projects” and authorized the city manager to execute an $11 million loan agreement with CityWide Development Corp. Bricker & Eckler LLP served as counsel to the City of Dayton for this important redevelopment project. For more, read the full article

Economic Development, Financial Incentives, Project Finance
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