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Fiat Chrysler eyes Toledo property for new vehicle customization facility
https://www.toledoblade.com/automot...operty-for-new-vehicle-customization-facility
December 18, 2020
Fiat Chrysler Automobiles wants to build a $23 million vehicle customization facility at the former Textileather and MedCorp properties in North Toledo to support its Jeep Wrangler and Jeep Gladiator production at its nearby Toledo Assembly Complex.
Mayor Wade Kapszukiewicz announced a pending purchase agreement with FCA on Friday and said he will present legislation to Toledo City Council next week to authorize the sale and redevelopment. The administration wants to sell the property to FCA for $1, “as an incentive for FCA’s proposed investment,” a news release said.
The company plans to build a 250,000-square-foot facility to be operated by a supplier employing more than 300 people, the release said.
“This is another major economic development win for Toledo, which is already benefiting from the redevelopment of the former Southwyck Shopping Center property in South Toledo, the Overland site, the Ironville property, and the Marina Lofts Toledo development,” Mr. Kapszukiewicz said in the release.
In exchange for the reduced sale price, the city intends to authorize a tax increment financing for the property prior to the sale. That will allow any increase in property tax revenue from the redevelopment to fund public improvements.
“The city will use the economic development tool to recoup its $6.8 million investment into the site over a period of time. No other incentives are being offered by the city of Toledo,” according to the news release.
FCA also will provide the city with a conditional buy-back option, which would allow the city to purchase the property for $1 in the event that the automaker has not developed the property for a vehicle customization facility within four years.
“The iconic Jeep brand has a special connection and history with Toledo and all of its residents. We appreciate the city council’s consideration of this proposal and would like to thank the city of Toledo and the mayor’s office for all of their efforts,” FCA spokesman Kevin E. Frazier said in an email. “At this time, we have no further details to provide.”
Textileather Corp. manufactured vinyl fabric in North Toledo for the automotive industry for decades until the company closed its doors in 2009, laying off hundreds of workers. The adjacent property utilized by MedCorp, an emergency ambulance service provider, closed in 2013.
That left two industrial buildings available for redevelopment.
City leaders knew the Toledo Assembly Complex had limited space to grow, which became an issue when the automaker began exploring how to expand or relocate its Jeep Wrangler production to meet growing global demand. So in 2014, under late-Mayor D. Michael Collins, the city began acquiring property for an incentive package to persuade FCA to continue building its Jeep Wrangler in Toledo.
The city bought the Textileather site in 2014 for $738,000 and then spent $1.6 million on demolition and environmental cleanup. It also purchased the former MedCorp property in 2014, for $1.37 million.
Paula Hicks-Hudson, who took over as mayor when Mr. Collins died, shepherded the purchases through city council.
Ultimately, the city was able to put together a 40-acre site ready for development.
https://www.toledoblade.com/automot...operty-for-new-vehicle-customization-facility
December 18, 2020
Fiat Chrysler Automobiles wants to build a $23 million vehicle customization facility at the former Textileather and MedCorp properties in North Toledo to support its Jeep Wrangler and Jeep Gladiator production at its nearby Toledo Assembly Complex.
Mayor Wade Kapszukiewicz announced a pending purchase agreement with FCA on Friday and said he will present legislation to Toledo City Council next week to authorize the sale and redevelopment. The administration wants to sell the property to FCA for $1, “as an incentive for FCA’s proposed investment,” a news release said.
The company plans to build a 250,000-square-foot facility to be operated by a supplier employing more than 300 people, the release said.
“This is another major economic development win for Toledo, which is already benefiting from the redevelopment of the former Southwyck Shopping Center property in South Toledo, the Overland site, the Ironville property, and the Marina Lofts Toledo development,” Mr. Kapszukiewicz said in the release.
In exchange for the reduced sale price, the city intends to authorize a tax increment financing for the property prior to the sale. That will allow any increase in property tax revenue from the redevelopment to fund public improvements.
“The city will use the economic development tool to recoup its $6.8 million investment into the site over a period of time. No other incentives are being offered by the city of Toledo,” according to the news release.
FCA also will provide the city with a conditional buy-back option, which would allow the city to purchase the property for $1 in the event that the automaker has not developed the property for a vehicle customization facility within four years.
“The iconic Jeep brand has a special connection and history with Toledo and all of its residents. We appreciate the city council’s consideration of this proposal and would like to thank the city of Toledo and the mayor’s office for all of their efforts,” FCA spokesman Kevin E. Frazier said in an email. “At this time, we have no further details to provide.”
Textileather Corp. manufactured vinyl fabric in North Toledo for the automotive industry for decades until the company closed its doors in 2009, laying off hundreds of workers. The adjacent property utilized by MedCorp, an emergency ambulance service provider, closed in 2013.
That left two industrial buildings available for redevelopment.
City leaders knew the Toledo Assembly Complex had limited space to grow, which became an issue when the automaker began exploring how to expand or relocate its Jeep Wrangler production to meet growing global demand. So in 2014, under late-Mayor D. Michael Collins, the city began acquiring property for an incentive package to persuade FCA to continue building its Jeep Wrangler in Toledo.
The city bought the Textileather site in 2014 for $738,000 and then spent $1.6 million on demolition and environmental cleanup. It also purchased the former MedCorp property in 2014, for $1.37 million.
Paula Hicks-Hudson, who took over as mayor when Mr. Collins died, shepherded the purchases through city council.
Ultimately, the city was able to put together a 40-acre site ready for development.
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