PDAC: Submission #327 | Dayton Development Coalition

Submission information

Project Details

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

2. Project title Wagner Business Incubator & Co-working Space

3. Short description The Wagner Property in Sidney has been tax delinquent and abandoned industrial brownfield for 20+ years. Through the Shelby County Land Bank, Sidney seeks to foreclose on the property, remove the hazardous blight, and revitalize it into a productive job-producing Business Incubator and Co-working Space. We anticipate that this redevelopment will facilitate the launch of 20-35 early-stage companies creating 75 new high-paying jobs. The total project is expected to cost approximately $3 million.

Organization Details

4. Organization making the request City of Sidney

5-8. Address 210 W. Poplar Street
Sidney, Ohio. 45365

9. County Shelby

10. Recipient organization SAME

11-14. Address {Empty}

15. County {Empty}

16. Organization type Government

Organization Contact Details

17. Name Mark Cundiff

18. Title City Manager

19. Organization City of Sidney

20. Telephone 937-498-8100

21. Email mcundiff@sidneyoh.com

22-25. Address 210 W. Poplar Street
Sidney, Ohio. 45365

26. County Shelby

27. Additional contacts Jim Hill, Executive Director
Sidney-Shelby Economic Partnership
jhill@choosesidneyshelby.com
937-498-9554

Location Details

28. City Sidney

29. County Shelby

30. Congressional district Ohio 4th

Financial Details

31. Funding request 500000

32. Total Cost 275000

33. Other sources of funds Our project team is exploring additional matching funding sources that include the following: Vibrant Community Program, USEPA Cleanup, EDA, USDA Rural Development, and CDBG Target of Opportunity. We are in the early stage of assembling the financial stack for this project, so the status of other sources of funding is very preliminary at this point in time.

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. No

36. If yes, please provide additional information. (Or, budget document can be uploaded, see question 37) {Empty}

37. Budget Yes

Budget File Upload

preliminary-project-costs.pdf (176 KB)

38. By what date will you be ready to spend the funds A year from now or later

39. Programs/grants for which this project would qualify Vibrant Community Program, USEPA Cleanup, EDA, USDA Rural Development, and CDBG Target of Opportunity

Community Details

40. Community Need After decades of decay, this neighborhood is in desperate need of revitalization and investment. Since this brownfield is located on a major thoroughfare, this revitalization is also important for improving the overall community image.

Sections of this facility have collapsed in recent years, endangering the safety of pedestrians and vehicles traveling in the public right-of-way. Elimination of this safety hazard is a significant community need.

Sidney-Shelby County would benefit greatly from a center for innovation, entrepreneurism and new business development. The community is also in need of a co-working space for individuals to work remotely, especially in the age of COVID-19. This is critical to a rural community competing in the global environment.

Located just blocks from the central business district, this redevelopment project is a key element in the City of Sidney’s Comprehensive Plan and Downtown/Riverfront Development Strategy. This neighborhood would benefit greatly from a “Job Hub” that could provide good paying jobs for individuals living nearby.

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. Project success will be determined by reaching several milestones with the project. Our first milestone would be to demolish the hazards onsite and address any necessary environmental cleanup. Our secondary milestone would be to redevelop the property into a business incubator and co-working space that would create jobs and investment in the City. Our final milestone would be achieved by measuring the economic output at the incubator. Metrics like the number of companies launched, number of jobs created, payroll of the companies, graduation rate, financial sustainability, annual progress toward graduation are appropriate metrics we will capture as success measures.

42. Direct new jobs created 51-100

43. Existing jobs retained? None

44. Sustained permanent jobs? 51-100

45. Please explain how you determined the job creation listed in questions 42-44. Job estimates come from the capacity of the incubator and co-working space.

46. Using your best guess, of the jobs created over the next 10 years, what will the average salary be? More than $100,000

47. Is your project a workforce development program? No

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

49. Counties in which jobs will be created Auglaize, Mercer, Miami, Shelby

Additional Details

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

Endorsements-Supp. Mtrls-Addl Info.pdf (548.26 KB)

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. jhill@choosesidneyshelby.com

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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