Label
Property Readiness Evaluation (PRE) Grant Program
Department of Economic Development
Brandon Sehlhorst (x1692)
Revised
Title
Authorizing the Mayor and Department of Economic Development to implement a Property Readiness Evaluation Grant Program; authorizing the Mayor to enter into program grant agreements; authorizing $80,000 from the General Fund for the Property Readiness Evaluation Grant Program; authorizing, subject to annual appropriations, the expenditure of funds from the General Fund for the Property Readiness Evaluation Grant Program; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The Property Readiness Evaluation (PRE) Program addresses one of the most significant barriers to real estate development in Toledo: the lack of site readiness and pre-development due diligence necessary to move projects from concept to implementation. The program is part of the City’s Vibrancy Initiative, a comprehensive strategy to strengthen neighborhoods and commercial corridors by supporting both physical improvements and the development pipeline. While programs like the Façade Improvement Grant and White Box Grant focus on visible building upgrades and tenant-ready spaces, the PRE Program focuses on the critical early-stage work needed to bring projects to life.
The PRE Program is designed to enhance the city’s economic vitality by supporting pre-development activities that reduce risk, close information gaps, and position catalytic projects for investment. By funding technical analyses and feasibility work, the program helps transform underutilized, vacant, or challenging sites into viable opportunities for job creation, housing development, and long-term private investment.
Summary
NOW THEREFORE Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Mayor and Department of Economic Development are authorized to implement a Property Readiness Evaluation Grant program.
SECTION 2. That the Mayor is authorized to award Property Readiness Evaluation Grants and enter into any necessary agreements subject to terms and conditions deemed proper and requisite according to the Director of Law and the Director of Economic Development.
SECTION 3. That the expenditure of $80,000 is authorized from the General Fund Account Code 1001-16400-5661001STDPRE for the Property Readiness Evaluation Grant Program for the 2026 fiscal year.
SECTION 4. That, subject to approved annual appropriations, expenditures are authorized from the General Fund Account Code 1001-16400-5661001STDPRE for the Property Readiness Evaluation Grant Program.
SECTION 5. That the Finance Director is authorized to issue warrant or warrants against the account code identified in Section 3 in payment of the above authorized obligations upon the proper voucher or vouchers.
SECTION 6. That it is found and determined that all formal actions of Council concerning and relating to the passage of this Ordinance were adopted in an open meeting of Council and that all deliberations of Council and any of its committees that result in such formal action were in meetings open to the public in compliance with all legal requirements, including Section 121.22, Ohio Revised Code.
SECTION 7. That this Ordinance is declared to be an emergency measure and shall take effect and be in force immediately from and after its passage. The reason for the emergency lies in the fact that same is necessary for the immediate preservation of the public peace, health, safety and property and for the further reason that this Ordinance must be immediately effective to facilitate the Property Readiness Evaluation Grant Program.
Vote on emergency clause: yeas _____, nays _____.
Passed: _________________, as an emergency measure: yeas _____, nays _____.
Attest: ________________________ __________________________________
Clerk of Council President of Council
Approved: _____________________ __________________________________
Mayor
I hereby certify that the above is a true and correct copy of an Ordinance passed by Council ________________________.
Attest: ________________________
Clerk of Council