OTHERAPPROVED

Canal Winchester City Council Meeting Agenda 2026-06-01

$20 Million Canal Pointe II CRA Agreement Approved

Estimated $19,975,000 investment; one-time payment of $105,374 to City; annual payment of $52,687 to School District; 20% of income taxes generated in building to School DistrictCity of Canal Winchester cityMOLTO CANAL POINTE II LLCJune 1, 2026

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Description

The Canal Winchester City Council authorized the Mayor to enter into a 15-year Community Reinvestment Area agreement and related school compensation agreement with Molto Canal Pointe II, L.L.C. Molto will build a 210,748 square foot speculative industrial building, invest almost $20 million, create at least 50 jobs, and provide financial compensation to the city and schools. In return, the city will grant a 15-year, 100% property tax exemption on improvements at the project site.

Contract Details

Contract Amount

Estimated $19,975,000 investment; one-time payment of $105,374 to City; annual payment of $52,687 to School District; 20% of income taxes generated in building to School District

Vendor

MOLTO CANAL POINTE II LLC

Agency

City of Canal Winchester city, OH

Contract Type

OTHER

Document Date

June 1, 2026

Contract Term

15-year, 100% property tax exemption on improvements; 10-year, 50% exemption for remodeling over $100,000

Renewal Date

2041-06-01