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Staff: Ohio Housing Finance Authority may lease covenants for downtown building; potential buyer impacts noted
Summary
City staff told the council they delivered information to area realtors and met with the Ohio Housing Finance Authority, which indicated willingness to lease certain covenants on a city building; staff said covenants might affect potential buyers but likely would not affect a few current tenants.
A city staff member told the St. Marys City Council that they had delivered packages to most area realtors outlining the status of a downtown building and that they met last week with the Ohio Housing Finance Authority.
The staff member said the Ohio Housing Finance Authority (OHFA) "are willing to lease certain covenants on the building," and that those covenants "might impact a potential buyer" while likely affecting "just a few for current tenants." The staff member described the meeting with OHFA as "a nice development" and said they wanted the council informed.
The transcript does not include details on the covenants' terms, the building's address, any projected effects on property valuation, or any council action to accept or implement covenants. No fiscal terms, lease durations, or timelines were provided in the meeting record.
