Label
CRA Westgate Village North, LLC
Department of Economic Development
B. Sehlhorst (x1692)
Revised
Title
Approving a Community Reinvestment Area real property tax exemption for Westgate Village North, LLC, to facilitate the redevelopment of the former Sears site at 3450 W. Central Avenue into a signature retail destination within the West Toledo Community Reinvestment Area; authorizing the execution of an agreement and other documents related thereto; making certain findings and determinations in connection therewith; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
Westgate Village North, LLC (“Owner”) has submitted a Community Reinvestment Area (CRA) application for a real property tax exemption pursuant to Ohio Revised Code Sections 3735.67 and 3735.671 and City of Toledo Ordinances 63-19 and 580-23. The exemption is requested to support the construction of approximately 183,081 square feet of new, high-quality commercial space on the former Sears site in West Toledo. The redevelopment will include restaurants, retail establishments, and participant sports and recreation uses, representing a total estimated investment of $50,148,392 (the “Project”). The Project is expected to create more than 80 permanent jobs with an estimated annual payroll of $3,868,103.
The Project complies with the requirements of the West Toledo Community Reinvestment Area as established by the above-referenced ordinances. In accordance with Ohio Revised Code Section 5709.83, the Washington Local School District was notified of the proposed one hundred percent (100%) real property tax exemption for a term of fifteen (15) years and has approved the terms of the CRA Agreement contingent upon passage of this Ordinance. Westgate Village North, LLC and the Washington Local School District will enter into a Payment in Lieu of Taxes Agreement to compensate the District for a portion of its forgone tax revenue. This Agreement was approved by the Washington Local Board of Education on November 5, 2025. This Ordinance authorizes a 100% real property tax exemption for fifteen (15) years on the increase in assessed valuation resulting from the Project improvements.
The City’s Incentive Advisory Committee reviewed the application on November 5, 2025, and recommended approval of the requested CRA real property tax exemption.
Summary
NOW THEREFORE Be it ordained by the Council of the City of Toledo:
SECTION 1. That pursuant to Ohio Revised Code section 3735.67 and City of Toledo Ordinances 63-19 and 580-23, a Community Reinvestment Area real property tax exemption of one hundred percent (100%) of the increase in the assessed valuation of real property resulting from new construction by the Westgate Village North, LLC on property located at 3450 W. Central Avenue, Toledo, Ohio (Parcels 22-71941, 22-16637, 22-71971, 22-71901, 22-71991, part of 22-16641) within the West Toledo Community Reinvestment Area is approved; and further said exemption shall be for a period of fifteen (15) years and said period shall commence as of the first year in which, but for that exemption, the specified building construction, or portion thereof, would otherwise become taxable.
SECTION 2. That the Mayor is authorized to enter into a Community Reinvestment Area Tax Exemption Agreement with Westgate Village North, LLC and Director of Law and Director of Economic Development and other appropriate City officials are authorized to execute such other agreements, instruments, documents, and certifications, and take such other actions as may be necessary or appropriate to effectuate the above authorized Community Reinvestment Area exemption.
SECTION 3. That it is found and determined that all formal actions of City Council concerning and relating to the passage of this Ordinance were taken in an open meeting of City Council, and that all deliberations of City Council and any of its committees that resulted in such formal action, were in meetings open to the public, in compliance with all legal requirements, including those of Sections 121.11 and 121.22 of the Ohio Revised Code.
SECTION 4. That this Ordinance is declared to be an emergency measure and shall be in force and effect from and after its passage. The reason for the emergency lies in the fact that the same is necessary for the immediate preservation of the public peace, health, safety, and property, and for the further reason that the Ordinance must be immediately effective in order to enable the City to expedite the redevelopment of the site in Toledo’s West Toledo Community Reinvestment Area.
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