COMMUNITY IMPROVEMENT CORPORATION MEETING
Tuesday, May 5 at 7:30 A.M.
Evendale Municipal Building, 10500 Reading Road, Evendale, Ohio
Attendees: Natalie Greulich, Jeff Albrinck, Al Pearlman, Hugh McKinnon, Stiney Vonderhaar, Dave Harwood, Doug Lohmeier, Jack Cameron.
Recurring Business:
1. Approval of Minutes from April 7, 2009 Meeting
a. (1st McKinnon, 2nd Vonderhaar – 7 aye, 0 nae)
2. Economic Development update
a. No update due to lengthy discussion on other topics.
New Business:
1. Al. Neyer, Chris Dobrozsi, potential office development
a. Chris Dobrozsi presented an office client they are currently working with who is interested in the Village owned property at 1717 Glendale Milford Road.
b. Company started in 2002, technology/software service provider, 230-275 FTE by 2010, current payroll of $15,750,000 annual.
c. 30,000 sq.ft. building expansion to 40,000 sq.ft. in 2011 projected.
d. Al. Neyer proposes transfer of approximately 5.5 acres of the site at no cost, guarantee earnings tax generation of $825,000 within 6 years. Letter is attached with concept site plan and more specific details.
e. CIC expressed much interest in the opportunity with concern over the no cost transfer.
f. Some CIC members recognized the value of getting an office client in Evendale to start the ball rolling in that direction as well as the proximity to Landmark.
g. Some CIC members preferred Evendale Commons for this project. Chris stated that they have gotten pricing from Miller Valentine but the client prefers the proximity to the highway that 1717 Glendale Milford offers.
h. CIC recognized the earnings tax generation as significant with quality, high paying jobs.
i. CIC noted that this helps diversify our tax base.
j. CIC noted that we considered a similar subsidy with Surgery Center in 2007 which had a longer payback. It was also noted that the Surgery Center project would be at our 100% corner which changes the dynamics of that particular project.
k. Natalie wondered how many great proposals we would get if we informed the marketplace that Evendale is giving away property.
l. Jeff requested that this matter be presented to Council at their May meeting. Although no consensus was given on this particular proposal CIC motioned; “An opportunity has been presented on Village property at 1717 Glendale Milford Road that CIC recommends Council should discuss at their May 14, 2009 meeting.” (McKinnon 1st, Vonderhaar 2nd - 6 aye, 0 nae, Jeff was excused 8:55am)
m. It was requested that in preparation for the May Council meeting that Jack work with Chris and Tim Burke to provide more details on the request to Council.
2. Equity, Shad Phipps, discussion of letter regarding grant request
a. David Neyer, Al. Neyer, LLC, provided a revised letter, attached.
b. David explained that they are trying to increase marketability of the Village Crossings site along Reading Road. Their current vision is to demolish the west side of the building and create possibly two outlots along Reading Road.
c. Tenants or uses were not known at this time; however, they have had continued interest from Sonic.
d. Request from Neyer is for loan to fund demolition and repaving of the area.
e. History of Surgery Center, Neyer/ Equity and Village deal from 2007 were discussed along with the understanding of the restrictions on this property. Walgreen’s has restrictions, US Bank has restriction from having another bank and there is a reciprocal easement agreement with Northland’s, Surgery Center and possibly PNC for access from Reading Road that exists on the parcel.
f. CIC questioned various aspects of the request including the reason for looking to the Village to provide loan. David explained the issues with commercial lending in the current economy and banks will not lend on speculative development regardless of companies credit and track record. David sited mutual interest with the Village in seeing this important corner in the Village be developed.
g. CIC questioned the arrangement of a loan of which David said it could be traditional with interest rate and term set or another arrangement that was mutually agreeable.
h. Jeff questioned the possibility of allowing the Village to have some control over the eventual use/tenant of which David said it was possible but could not confirm until specific language was drafted.
i. Al made sure that David understood the Village would need to see financial statements if we were to consider any type of loan. David agreed.
j. Natalie asked that with no urgency to have this happen ASAP that the matter be continued until next month when CIC could have a month to digest and discuss in June. CIC members and David agreed. Matter was continued for June meeting.
Old Business:
1. Norfolk Southern request to access Medallion Drive
a. No status change. Gold Medal to provide feedback before continuing discussion.
2. Economic Development consultant, staffing or the like
a. Draft ‘work plan’ provided from Jack Cameron on ED activities.
b. Brief discussion due to lengthy discussion on other topics.
c. Natalie stated some urgency to move discussion forward. Special meeting date set for Monday, May 18, 2009.
3. Review of Role/Mission Statement of CIC
a. Tabled until June.
4. Landbanking (Marketing Existing Sites & Future Landbank Sites)
a. Tabled until June.
Date of Next Meeting Tuesday, June 2, 2009, Special Meeting May 18, 2009.
Adjournment (Lohmeier 1st, Vonderhaar 2nd - 5 aye, 0 nae Hugh was excused 9:15am) 9:22am
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