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Council hears second reading of CRA for FedOne building; third reading deferred
Summary
Council held the second reading of Ordinance 25-42, a proposed 15-year, 75% community reinvestment agreement for a 100,000-square-foot FedOne building at 115 Innovation Court. Council did not vote; the item will return for third reading because not enough members were present to act.
City staff presented the second reading of Ordinance 25-42 on July 14, 2025, a proposal to authorize a Community Reinvestment Area (CRA) agreement with Sawmere Sawmill Delaware Investments LLC (FedOne) for approximately 100,000 square feet of industrial space at 115 Innovation Court.
Economic development staff described the proposal as a 15-year, 75% tax abatement intended to facilitate construction of approximately 100,000 square feet on roughly 13 acres at Sawmill Parkway near the airport. Staff estimated total project costs of about $14,000,000 (land $1.3 million, construction $11.5 million, site improvements $1.2 million) and said the facility could create a minimum of 20 full-time jobs but might support up to 100 depending on tenants. The presentation noted the building could be subdivided into units as small as 10,000 square feet and that the developer seeks a CRA to make the project feasible in the current cost and interest-rate environment.
Developer representative David Poe of McCabe Company said construction costs and interest rates have increased substantially in recent years and that the project would not proceed without CRA support. He said similar projects in the airport area received incentives and that JobsOhio and the County Finance Authority are supporting the proposal.
City staff noted the abatement preserves 25% of new property-tax revenue for schools and other taxing districts; staff also noted clawback provisions require reimbursement if job and payroll commitments are not met and that the city served notice to Delaware City Schools (school consent not required at the 75% threshold). The city received an email from Jill Corwin, treasurer of Delaware City Schools, opposing the abatement; that correspondence was provided to council and will be posted to the city's website.
Council discussion included questions about likely tenant types (developer said light manufacturing or flex space is probable), the project's local economic benefits, and caution about the use of CRAs in the future. Council decided it could not act because not enough members were present to approve the agreement; the item was moved to a third reading at a future meeting when a full vote could be taken.
No vote on Ordinance 25-42 occurred on July 14.
