OTHERPENDING

Canal Winchester Council Work Session Meeting Agenda 2026-06-01

Canal Winchester Proposes CRA Agreement with Molto Canal Pointe II LLC

Estimated $19,975,000 investment; annual Base PILOT Payment of $52,687; Community Benefit Payment of $0.25/sf at permit and $0.25/sf at occupancy (total $0.50/sf); 25% of City income tax receipts shared with school districtCity of Canal Winchester cityMOLTO CANAL POINTE II LLCJune 1, 2026

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Description

The City of Canal Winchester approved moving forward on a Community Reinvestment Area Agreement with Molto Canal Pointe II, L.L.C., offering a 100% real property tax exemption for 15 years tied to an estimated $19.98 million industrial development. The agreement requires annual payments to the school district and community benefit payments based on building square footage. Income tax revenue sharing also forms part of the compensation.

Contract Details

Contract Amount

Vendor

MOLTO CANAL POINTE II LLC

Agency

City of Canal Winchester city, OH

Contract Type

OTHER

Document Date

June 1, 2026

Contract Term

Fifteen (15) years for real property tax exemption (not later than tax year 2040)

Renewal Date

2043-12-31

Renewal Info

Fifteen-year CRA exemption; no automatic renewals. Early termination if obligations not met or if project not developed by tax year 2040. School compensation payments and community benefit payments are annual throughout exemption period.