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Findlay finance committee backs continued talks with Casto on proposed development, favors cash installments and construction benchmarks
Summary
The committee recommended that administration continue negotiating a proposed Casto development under an assumption of cash funding and an ideal payment term of three to five years, and flagged concerns about precedent, account sourcing and benchmarks tied to construction milestones.
The Findlay City Finance Committee on April 12 recommended that city administrators continue negotiations with Casto for a proposed development, with a preference for cash payments and installment terms conditioned on construction benchmarks.
Mr. Fryer, who reviewed a meeting with Casto representatives, told the committee the parties agreed it would be preferable for the city to fund any incentive package in cash rather than delay through financing, and that payment terms in the discussion ranged "somewhere between three and five years." He said the…
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