PDAC: Submission #310 | Dayton Development Coalition

Submission information

Project Details

1. To which Review Panel are you submitting your project? Economic Development

2. Project title Sears- Rehabilitation

3. Short description The project is the Sears store located at the site of the former Salem Mall in the City of Trotwood. The project consists of a 127,000 s.f. building located on a 16-acre parcel. The Trotwood Community Improvement Corp. (CIC) acquired the property for $225,000 (appraised at $400,000) through the bankruptcy courts. There has been damage to electrical panels and the HVAC system. To retrofit the property will require approximately $350,000. The CIC will be offering a 10% match for the grant.

Organization Details

4. Organization making the request Trotwood Community Improvement Corporation

5-8. Address 3035 Olive Road
Trotwood, Ohio. 45426

9. County Montgomery

10. Recipient organization {Empty}

11-14. Address {Empty}

15. County {Empty}

16. Organization type Non-profit

Organization Contact Details

17. Name Fred D. Burkhardt

18. Title Executive Director

19. Organization Trotwood Community Improvement Corporation

20. Telephone 937-854-7244

21. Email fburkhardt@trotwood.org

22-25. Address 3035 Olive Road
Trotwood, Ohio. 45426

26. County Montgomery

27. Additional contacts {Empty}

Location Details

28. City Trotwood

29. County Montgomery

30. Congressional district Ohio 10th

Financial Details

31. Funding request 350000

32. Total Cost 750000

33. Other sources of funds The CIC has acquired the property form cash reserves. Future revenue will be derived from leasing activity estimated to exceed $225,000 annually.

34. How the funds will be used Construction or Capital

35. Do you have matching funds raised or committed? If yes, explain in question #36. If no, skip to question #37. Yes

36. If yes, please provide additional information. (Or, budget document can be uploaded, see question 37) A minimum of $40,000

37. Budget No

38. By what date will you be ready to spend the funds Within the next 6 months

39. Programs/grants for which this project would qualify Retrofitting the existing power grid for leasing to multiple tenants is an essential component of the project. In addition to simply bringing the property uup to current requirements, sub-metering will be required to service multiple tenants.

Community Details

40. Community Need The project would provide a Trotwood and surrounding communities with a benefit by introducing a retrofitted property capable of supporting approximately 300 new, light industrial job generating an estimated $8.5 million dollar payroll, thus driving an additional revenue stream of both income tax as well as property tax and an expanded revenue stream to support the existing TIF district and continued CIC activities.

41. Previous Funding: Has the requesting organization received Congressionally earmarked funding in the past? If so, please provide a brief project description, year funded, amount, and Congressional sponsor. Development agreements with leases will require semi-annual employment and payroll reporting.

42. Direct new jobs created 251-500

43. Existing jobs retained? {Empty}

44. Sustained permanent jobs? 251-500

45. Please explain how you determined the job creation listed in questions 42-44. We utilized USDOE and Institute of Transportation Engineers estimates for Land-use code 110. Based on 463 sf per employee

46. Using your best guess, of the jobs created over the next 10 years, what will the average salary be? $25,001-$50,000

47. Is your project a workforce development program? No

48. If yes, does your program center on one of the ten JobsOhio targeted industries? Yes

Which industry? Logistics & Distribution

49. Counties in which jobs will be created Montgomery

Additional Details

50. Letters of endorsement, supporting materials, additional information. You can submit ONE PDF file that does not exceed 10 pages. {Empty}

51. Is there opposition to the project? No

52. Name of person filling out this form. {Empty}

53. Telephone number of person filling out this form. {Empty}

54. Email of person filling out this form. This is where notification will be sent that the form was received. fburkhardt@trotwood.org

55. Do you want your project to be considered as a Community Project in the fiscal year 2025 –2026 State Capital Budget Bill? {Empty}

56. If your project type is on the list of ineligible projects (see above), please offer an explanation why your project could be eligible. If your project is not on the list, answer the question by stating that your project is not on the list of ineligible projects. {Empty}

57. Has your organization received state capital budget funding in the past? If so, provide a brief project description, year funded, and amount. {Empty}

58. Does your project have a connection with, or provide some benefit to, a state agency that has bonding authority? Please check all that apply from the following list: {Empty}

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