News Flash

General City News

Posted on: June 24, 2022

Ohio Building Update

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During the Monday, June 27, 2022, City Council meeting, City Council will be presented with legislation to authorize the City Manager to enter into a purchase agreement for 113 North Ohio Avenue, commonly known as The Ohio Building, contingent upon the award of incentives. The city acquired the vacant property through the expedited foreclosure process in 2017.

Earlier this spring, the city signed a development agreement with Woodard Development to investigate the potential redevelopment of the Ohio Building, a 54,900 square-foot historic structure located in downtown Sidney, into a mixed-use retail and residential unit property.

Woodward Development completed all the due diligence related to the acquisition of the building, including pursuing applicable incentives, tax credits and other fiscal tools to support the project earlier this week and have expressed interest in the purchase of the building.

One of the incentives being considered is the Transformational Mixed-Used Development (TMUD) Program. Governor DeWine and Lt. Governor Husted announced recently that $100 million in state support is now available as part of the second round of the TMUD Program.

The mixed-use redevelopment plan outlines commercial/retail space on the ground floor, with 30-40 housing units, expected to be a mix of one and two bedroom apartments on the upper floors.

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