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Xenia council approves leaseback for Market District parcels, authorizes Church Street grant application
Summary
Council authorized a leaseback agreement so city staff can manage leases and finances for parcels being transferred to the Xenia Community Improvement Corporation and approved submitting a MVRPC grant application for Church Street improvements tied to Market District buildout.
Xenia City Council on Sept. 25 approved a leaseback arrangement with the Xenia Community Improvement Corporation that will let city employees continue managing leases and receipts for properties being transferred as part of the Xenia Market District redevelopment, and authorized submitting a federal funding application to Miami Valley Regional Planning Commission for Church Street improvements from West Main to North Detroit. The council voted unanimously on both items.
The leaseback lets the city continue billing current lessees and receiving lease payments after title transfers so that property management and financial functions continue without interruption, city manager Merriman told council. Merriman said the Community Improvement Corporation (CIC) has been designated as the development agent for the Market District and must…
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