Southwest Licking Local Schools Awards Financial Services Contract to Summit Road Industrial Llc (July 2026)

Approximately $108,000,000 total project investment; annual fee $500 per building; $3,000 annual Tomato Festival donation; one-time $2,000 CRA creation fee; 75% real property tax exemption for 15 years per building

FINANCIAL_SERVICES

15-year real property tax exemption period per building; Building 1 & 2 exemptions not to commence after tax year 2028 and not to extend beyond tax year 2042 (collection year 2043); Building 3 exemption not to commence after tax year 2029 and not to extend beyond tax year 2043 (collection year 2044); ongoing annual fees during incentive period

2044-12-31

CRA exemption runs for a fixed 15-year term per building from the first taxable year of each building’s completion, subject to early termination or modification by the City for material default, fraud, or tax delinquency; company may terminate the Agreement at any time upon written notice but remains liable for accrued obligations.

Agreement