By Tim Schneider, Toledo Regional Chamber of Commerce
Toledo City Council is expected to approve two proposals to aid in the redevelopment of the Four Corners area of downtown Toledo at its June 8th meeting.
The first proposal would approve $185,000 for the city’s purchase of Park Station from TARTA. The other proposal would amend a purchase agreement between the city and Nasby LLC to reflect that the company will buy Park Station from the city for the same price. The city acquiring Park Station and then conveying it to Nasby LLC is a condition in the purchase agreement for the sale of the Nasby Building. Both properties are located on Madison Avenue between Huron Street and Erie Street.
The sale to Nasby LLC had been delayed due to TARTA first needing approval from the Federal Transit Administration to sell Park Station. Redevelopment of the Nasby Building is viewed as important to also support redevelopment of the Nicholas and Spitzer buildings which each occupy other corners at Madison Avenue and Huron Street and were recently acquired by the Lucas County Land Bank.
This legislation is part of the city’s effort to encourage economic development and further private investment at this intersection of downtown. Those interested in watching the council meeting can do so virtually by visiting https://toledo.legistar.com and scrolling down to the council meeting and clicking on “in progress”.
The sale to Nasby LLC had been delayed due to TARTA first needing approval from the Federal Transit Administration to sell Park Station. Redevelopment of the Nasby Building is viewed as important to also support redevelopment of the Nicholas and Spitzer buildings which each occupy other corners at Madison Avenue and Huron Street and were recently acquired by the Lucas County Land Bank.
This legislation is part of the city’s effort to encourage economic development and further private investment at this intersection of downtown. Those interested in watching the council meeting can do so virtually by visiting https://toledo.legistar.com and scrolling down to the council meeting and clicking on “in progress”.
 | Tim Schneider As Manager for Local Government Advocacy, Tim Schneider advocates for local policies and laws that safeguard and foster a pro-business environment in the Toledo Region. Tim has more than 10 years of legislative and public policy experience with the local, state and federal levels of government. |
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