Shaker Heights Neighborhood and Economic Development Committee Agenda Packet January 2026
RDL Architects Recommended for $225,000 Vision Loan
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Description
The Economic Development Committee recommended Council approve a $225,000 Vision Loan to RDL Architects for the build-out of new office space in the Arcadia development. The loan supports RDL's relocation back to Shaker Heights under a 10-year lease, aiming to restore local income tax revenue.
Contract Details
Contract Amount
$225,000 (Vision Loan)
Vendor
RDL ARCHITECTS
Agency
City of Shaker Heights, OH
Contract Type
FINANCIAL_SERVICES
Document Date
January 14, 2026
Contract Term
10 years (lease term)
Renewal Date
2036-01-14
Renewal Info
Standard Vision Loan agreement; tied to 10-year lease; repayment based on tax receipts. Renewal based on performance and retention.
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