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Canal Winchester council advances CRA agreement with Molto Canal Pointe II
Summary
Council voted to send RES-26-026 to full council, a resolution authorizing a Community Reinvestment Area agreement with Molto Canal Pointe II that includes school compensation and a $0.25-per-square-foot community benefit payment at permit issuance and at occupancy.
Canal Winchester City Council on June 1 voted to send RES-26-026 to full council, advancing a resolution that would authorize the city to enter a Community Reinvestment Area (CRA) agreement with Molto Canal Pointe II, L.L.C., and a related school compensation agreement with the Canal Winchester Local School District. The motion to move the resolution to full council passed 6-0 (Shea moved; McLaughlin seconded).
City staff representative Boggs told council the CRA exemption would apply to the value attributed to new structures on the site and includes both a school compensation component and a community benefit payment. "Community participation, or community involvement, is also part of this agreement," Boggs said. Boggs confirmed the community benefit payment is set at $0.25 per square foot at permit issuance and $0.25 per square foot at occupancy.
Councilor Alec McLaughlin asked whether the agreement would remain in effect if ownership of the property changes; Boggs replied that the agreement follows the property for its term and that any assignment would require city consent. Chair Richard Moore asked staff whether Molto still owns prior buildings related to the project; Boggs said he did not know.
Councilor Patrick Shea asked where community benefit payments would be recorded. Boggs said the agreement itself does not designate a specific fund; Amanda Jackson said payments would likely be received into the city's general fund but that staff could recommend placing receipts in a special revenue fund and would report amounts received. "I think we need to have further discussion about how we want to account for that," Jackson said, adding that the city will need to decide whether to track the funds separately. Jackson also confirmed this would be the first community benefit payment to be received, as the other project has not yet broken ground.
By moving RES-26-026 to full council, councilors set the item for consideration at a future regular meeting; no final approval or tax-exemption was granted at the work session. The resolution references Section 3735.671 of the Ohio Revised Code and a companion school compensation agreement with the Canal Winchester Local School District.
