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Committee hears Lincoln Mill redevelopment plan emphasizing polymer innovation hub and TIF as a financing tool
Summary
Planning staff described a 39-acre Lincoln Mill redevelopment area made up of 68 parcels that includes university-owned land and sites for a new polymer pilot facility; the plan would establish objectives for future development and allow the city to assist projects through tax-increment financing.
Planning staff presented the Lincoln Mill redevelopment plan, a proposal covering roughly 68 parcels and about 39 acres on the east edge of downtown Akron that includes portions of the University of Akron campus and the National Polymer Innovation Center.
The presenter described a regional polymer innovation effort launched in 2024 involving more than 70 partner agencies and said the industry cluster has been awarded what the presentation described as "hundreds of millions" in grant funding to support a new polymer pilot facility planned for Lincoln Street adjacent to the existing innovation center. "The purpose of the new facility will be to enable academic researchers, small and startup companies and existing industries to make initial scale-up quantities of novel polymers to evaluate real world performance, demonstrate commercial value and attract investment," the presenter (Jim, planning staff) said.
Staff noted that University of Akron controls nearly two-thirds of the redevelopment area, that several church properties lie within the footprint and that the existing Lincoln building at 100 Lincoln Street will be removed to make space for the new facility. Planning staff recommended the redevelopment plan, which sets development goals and gives the city the opportunity to assist development by utilizing tax-increment financing.
Councilmember Fran Wilson said she was "excited for the improvements coming to this area," and the committee closed the afternoon hearing and will consider the item again at 5:00 p.m.
