Label
DED Champion Site Acquisition
Division of Real Estate
Douglas Johnson (x1431) // Brandon Sehlhorst (x1692)
Title
Authorizing the Mayor to execute and deliver instruments necessary to effectuate the City's acquisition of 1110 Hastings St, Toledo, Ohio, a portion of the former site of Champion Spark Plug; making certain findings with respect thereto; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
Mark Fayson is the owner of an approximately 8.5-acre parcel of real property at 1110 Hastings Street (Parcel # 04-11814), a portion of the former site of the Champion Spark Plug manufacturing plant. In February 2020, the City executed an Option to Purchase with Mr. Fayson granting the City the right to purchase the property for Ten Dollars ($10.00).
The City owns the adjacent 8+ acre parcel of the former Champion property. Together these parcels will offer a site with rail access and direct entry from a major street. Once this additional parcel is acquired, an RFP process will be used to retain a real estate broker who will aggressively market the parcels for a redevelopment.
The Fayson parcel has had grant-funded environmental assessments completed (Phase I in in December 2014, Phase II in September 2015, Supplemental Assessment in August 2016), and the Fayson parcel received a No Further Action letter in October of 2019 after the removal of underground storage tanks, funded by a grant from the US EPA. Fees owed to the Ohio Petroleum Underground Storage Tank Release Compensation Board have been waived.
The fiscal impact of this ordinance is as follows:
- The amount of funds requested: $10.00
- The expenditure budget line item: 1001-16400-537410-5000436STDSTD
- New revenue generated (operational revenue, grants, if any): $0
- Revenue budget line item (if any): N/A
- Are funds budgeted in the current fiscal year (yes/no)?: N/A
- Is this a capital project (yes/no)? No
- If yes, is it new or existing (new/existing)? N/A
- What section of the Ci...
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