Label
CRA Niki Toledo, LP
Department of Economic Development
B. Sehlhorst (x1692)
Revised
Title
Approving a Community Reinvestment Area real property tax exemption for Niki Toledo, LP, to facilitate the redevelopment of the former Elder-Beerman site at 3311 Secor Road, 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:
Niki Toledo, LP (“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 62,934 square feet of new, high-quality commercial space on the former Elder-Beerman site in West Toledo. The redevelopment will include restaurants, retail establishments, and participant sports and recreation uses, representing a total estimated investment of $31,272,494 (“Project”). The Project is expected to create more than 64 permanent jobs with an estimated annual payroll of $3,056,279.
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 has been notified of the proposed one hundred percent (100%) real property tax exemption for a term of fifteen (15) years. The approval of this abatement is contingent upon the applicant, Niki Toledo, LP, entering into a Payment in Lieu of Taxes (PILOT) Agreement with the Washington Local School District to compensate the District for a portion of its forgone tax revenue. Ordinance authorizes a one hundred percent (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 Niki Toledo, LP on property located at 3311 Secor Road, Toledo, Ohio (Parcel 22-16648) 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 Niki Toledo, LP 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 12, nays 0.
Passed: November 18, 2025, as an emergency measure: yeas 12, nays 0.
Attest:
Julie A. Gibbons Vanice S. Williams
Clerk of Council President of Council
Approved: November 18, 2025
Wade Kapszukiewicz
Mayor