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

School District Set For PILOT and Tax Sharing Under Canal Pointe CRA

Annual Base PILOT Payment: $52,687; 25% of City’s income tax receipts from building activity; Total estimated based on 210,748 sq ft and job/payroll targetsCity of Canal Winchester cityCANAL WINCHESTER LOCAL SCHOOL DISTRICTJune 1, 2026

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Description

As part of the CRA Agreement, Canal Winchester Local School District is to receive annual compensation and income tax shares from Molto Canal Pointe II, L.L.C. for the full term of the tax abatement. Payments are calculated based on building square footage and a share of new income tax proceeds.

Contract Details

Contract Amount

Annual Base PILOT Payment: $52,687; 25% of City’s income tax receipts from building activity; Total estimated based on 210,748 sq ft and job/payroll targets

Vendor

CANAL WINCHESTER LOCAL SCHOOL DISTRICT

Agency

City of Canal Winchester city, OH

Contract Type

OTHER

Document Date

June 1, 2026

Contract Term

Fifteen (15) years from initial exemption year (not beyond tax year 2040); annual payments during each year of CRA exemption period

Renewal Date

2043-12-31

Renewal Info

Agreement runs concurrently with fifteen-year CRA exemption; not self-renewing; may be amended by mutual written consent; terminates upon end of CRA period or default uncured.

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