FACILITIESAPPROVED

Violet Township Board of Trustees Agenda Packet 2026-06-17

Township Approves Wigwam Tract Sale to OSU Wexner

$8,750,000Town of VioletOHIO STATE UNIVERSITYJune 17, 2026

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Description

Violet Township Board of Trustees approved and ratified a Real Estate Purchase and Sale Contract with The Ohio State University for the sale of the Wigwam Tract’s Phase I and Phase II Parcels for $8,750,000. The agreement supports development of a Wexner Medical Center facility and related infrastructure, with complex contingencies, JEDD revenue sharing, and authorization for the Township Administrator to execute related documents and expenditures.

Contract Details

Contract Amount

$8,750,000

Vendor

OHIO STATE UNIVERSITY

Agency

Town of Violet, OH

Contract Type

FACILITIES

Document Date

June 17, 2026

Contract Term

Closing to no later than December 31, 2032 for interchange contingency; Phase I Operational Date plus 20 years for revenue sharing; various development periods and rights periods as defined in contract

Renewal Date

2032-12-31

Renewal Info

One-time land sale; no traditional renewal. Contract contains multiple option and extension mechanisms, including extensions of the Development Rights Period, interchange contingency period through December 31, 2032, and additional 90‑day extension rights for Remaining Property ROFO negotiations, but not an automatic renewal of the purchase itself.