Label
DEDSaleofStickneyWest
Business Development
B. Sehlhorst (x1692)
Title
Authorizing the Mayor to enter into a Real Estate Purchase Agreement with FCA US LLC. to execute and deliver needed instruments for the sale and conveyance of 40.67 acres of city-owned real property known as 3808 Twining St., in the City of Toledo, Lucas County, Ohio; making certain findings with respect thereto; waiving the competitive bidding and advertising provisions of TMC 187.19; authorizing the deposit of net sale proceeds into the Capital Improvement Fund; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The city of Toledo is the owner of certain real property referred to as the Stickney West property including the former Textileather and MedCorp sites, located at 3808 Twining St. Toledo, Ohio (Parcel ID Nos. 11-05974 and 11-06011) and further identified in Exhibit A ("Property").
FCA US, LLC ("Purchaser" or "FCA") intends to purchase the Property to construct an approximately 250,000 sq. ft. vehicle customization facility at an estimated of $23 million investment. The project is anticipated to employ approximately 300+ people.
Several years ago, FCA was evaluating various scenarios of how to expand production to meet the global demand of the iconic Jeep Wrangler. The limited ability to expand the existing Toledo Assembly complex created uncertainty regarding the site's ability to support desired production levels. In an effort to retain the Wrangler production, which has only ever been manufactured in Toledo, the city proactively worked with its economic development partners, including JobsOhio, to redevelop the shuttered Textileather and MedCorp properties into a 40-acre development-ready site. The vehicle customization facility will put this site into productive reuse, create additional jobs, support the Jeep Wrangler and Jeep Gladiator production at Toledo Assembly, add to the available land to support continued future projection at Toledo Assembly, and add ...
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