October 28, 20195 yr 3 hours ago, lafont said: Are you certain it's larger than the Centennial? Each floor is huge, and it's twenty stories - not that much shorter. I'm including parking in that 2 million square feet. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
October 28, 20195 yr I hope this actually comes to fruition. However, I just really hope that along with the financial change that other things happen to allow Stark to build the originally planned tower!
October 28, 20195 yr @KJP I can't seem to find it or missed it: does the new TMUD still limit the acreage that this can be applied to? I seem to recall the original version limited projects to a few acres. Is this still the case?
October 28, 20195 yr 30 minutes ago, DTCL11 said: @KJP I can't seem to find it or missed it: does the new TMUD still limit the acreage that this can be applied to? I seem to recall the original version limited projects to a few acres. Is this still the case? There isn't any reference to "acre" in the current legislation. I did a word search on the bill at: http://search-prod.lis.state.oh.us/solarapi/v1/general_assembly_133/bills/sb39/PS/02?format=pdf "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
October 29, 20195 yr 23 minutes ago, Terdolph said: The whole thing, as is, is a disappointment. A watered down Park Centre. I've started to call it Reserve Square 2.0 myself ...
October 30, 20195 yr 6 hours ago, Paul in Cleveland said: I've started to call it Reserve Square 2.0 myself ... Was reserve square supposed to be much more pleasing design wise initially?
October 30, 20195 yr 10 minutes ago, MyPhoneDead said: Was reserve square supposed to be much more pleasing design wise initially? when built Reserve Square and the Chesterfiled were stunning buildings. I knew a lot of people that live in the Chesterfield as it was a very hard buildings to get into.
October 31, 20195 yr Update on Sub. SB 39, the TMUD tax credit legislation..... I emailed the Economic & Workforce Development Committee's chairman to see if the legislation was reported to the House floor after yesterday's hearing. A staffer replied: No action was taken this week. I'm still not sure if we're meeting next week or not, but if we don't, we will definitely meet November 13. So if there's no hearing until the 13th, and if the bill gets reported out at that time, it would leave up to four House sessions for the full House to vote on it. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
November 1, 20195 yr Thankfully they will speed things up a little bit. The next hearing for Sub. SB 39 (TMUD tax credit) in the Economic & Workforce Development Committee is Nov. 6. If the bill gets reported out at that time, it would offer up to seven House sessions for the full House to vote on it. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
November 1, 20195 yr On 10/29/2019 at 4:04 PM, Paul in Cleveland said: I've started to call it Reserve Square 2.0 myself ... At this point I'll take anything to get this done once and for all.
November 4, 20195 yr Pulled over from SW HQ. "Remember, a developer just needs to get a company to commit to a large enough amount of space to get a project off the ground." Didnt Stark sign Bensche for the Nucleus office project? Edited November 4, 20195 yr by Frmr CLEder
November 4, 20195 yr 38 minutes ago, Frmr CLEder said: Pulled over from SW HQ. "Remember, a developer just needs to get a company to commit to a large enough amount of space to get a project off the ground." Didnt Stark sign Bensche for the Nucleus office project? Won't make any difference. The office rents in Cleveland don't come anywhere near close to overcoming the cost of office construction without subsidies. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
November 6, 20195 yr From yesterday's article on cleveland.com re: first look of The Beacon. Last paragraph: "Stark continues to work on its larger and more complicated nuCLEus project that Stark plans to build nearby at Prospect Avenue, East Fourth Street and Huron Road. Stark had previously hoped to start construction in August, but continues to work on closing financing for the project. “We are still very hopeful” the project will move forward, a Stark representative said." https://www.cleveland.com/business/2019/11/first-look-the-beacon-downtown-apartment-tower-offers-lake-views-luxury-living.html
November 6, 20195 yr Today, the House committee will hold another hearing on Sub. SB 39 -- the TMUD tax credit bill. It could be referred to the the full House today or kept in committee. Hope it's not the latter. They're running out of time this year but the current legislative session continues until the end of next year. Stark hasn't given up. You don't spend money on more renderings and presentations if you think a project is dead. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
November 6, 20195 yr It doesn't appear there was a vote today -- just additional hearings with witnesses testifying in favor of the bill. Hopefully this comes up for a vote soon, or else they may run out of time again.
November 13, 20195 yr Does anyone know if the Economic & Workforce Development Committee met regarding SB 39 today? If so, what was the outcome?
November 14, 20195 yr 4 hours ago, Sapper Daddy said: Does anyone know if the Economic & Workforce Development Committee met regarding SB 39 today? If so, what was the outcome? They didn't meet today. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
November 14, 20195 yr And they aren't going to meet next week either, per an e-mail sent 90 minutes ago from the chair of the House Economic and Workforce Development Committee. In October, the committee seemed to be in a big hurry to move SB 39. Now they don't. In December, there will be at least three House sessions and possibly as many as six starting Dec. 10. That schedule can change. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
November 14, 20195 yr 4 minutes ago, KJP said: And they aren't going to meet next week either, per an e-mail sent 90 minutes ago from the chair of the House Economic and Workforce Development Committee. In October, the committee seemed to be in a big hurry to move SB 39. Now they don't. Maybe somebody should attach some sort of abortion restriction to the bill. That will get it moving.?
November 14, 20195 yr 4 minutes ago, KJP said: And they aren't going to meet next week either, per an e-mail sent 90 minutes ago from the chair of the House Economic and Workforce Development Committee. In October, the committee seemed to be in a big hurry to move SB 39. Now they don't. In December, there will be at least three House sessions and possibly as many as six starting Dec. 10. That schedule can change. Are they going to purposely run out of time again this year. This bill was presented in February. It seems like they want to find a way to not have it pass.
November 14, 20195 yr They seem determined to stall, prohibit, defund, deny any project that could benefit the economic development of the state's urban centers. Or perhaps they're delaying the bill in the hope that it will result in developers providing them with campaign contributions in advance of next year's election. It's just more of the same. Disgusting. Edited November 14, 20195 yr by Frmr CLEder
November 15, 20195 yr 1 hour ago, simplythis said: Are they going to purposely run out of time again this year. This bill was presented in February. It seems like they want to find a way to not have it pass. SHW and @KJP‘s mystery mega project will get Stark moving. Banking on the megamysterymanbearpigproject
November 15, 20195 yr 4 hours ago, Frmr CLEder said: They seem determined to stall, prohibit, defund, deny any project that could benefit the economic development of the state's urban centers. Or perhaps they're delaying the bill in the hope that it will result in developers providing them with campaign contributions in advance of next year's election. It's just more of the same. Disgusting.
November 16, 20195 yr On 11/14/2019 at 5:27 PM, Htsguy said: Maybe somebody should attach some sort of abortion restriction to the bill. That will get it moving.? Here's the chance..... https://www.cleveland.com/open/2019/11/ohio-state-lawmakers-propose-total-abortion-ban.html?utm_campaign=clevelanddotcom_sf&utm_medium=social&utm_source=facebook&fbclid=IwAR1ckEJqPLztDLOeREsjISZKuXnK6e0YXNCs5Ob0YCTdurtRThjMCti7CYs Edited November 16, 20195 yr by Frmr CLEder
November 21, 20195 yr Somehow i was hoping there was a last minute change and the committee met on SB39 but i guess not. Hopefully KJP has got some updates for us.
November 21, 20195 yr 13 hours ago, simplythis said: Somehow i was hoping there was a last minute change and the committee met on SB39 but i guess not. Hopefully KJP has got some updates for us. KJP’s busy, but here’s what’s going on:
November 21, 20195 yr Unfortunately, there's nothing to report. BTW... There was an email in my inbox from yesterday from the committee chair stating that there would be no meeting next week. Edited November 21, 20195 yr by KJP "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
November 21, 20195 yr 1 hour ago, KJP said: Unfortunately, there's nothing to report. BTW... There was an email in my inbox from yesterday from the committee chair stating that there would be no meeting next week. That would be 3 straight weeks of no meetings. Do we have enough time to get this passed this year or they trying to find a way to run out of time
November 21, 20195 yr 5 minutes ago, simplythis said: That would be 3 straight weeks of no meetings. Do we have enough time to get this passed this year or they trying to find a way to run out of time The next step is a GoFundMe.
December 1, 20195 yr On 11/21/2019 at 11:53 AM, marty15 said: The next step is a GoFundMe. That's capitalist dystopian right there, having citizens fund a project without getting benefits of being an investor. ?
December 5, 20195 yr Does anyone know if the Economic & Workforce Development Committee met regarding SB 39 today? They are running out of time.
December 5, 20195 yr Just now, simplythis said: Does anyone know if the Economic & Workforce Development Committee met regarding SB 39 today? They are running out of time. They did not meet. But the legislative session doesn't end with this calendar year. It ends with the next one. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 5, 20195 yr 1 minute ago, KJP said: They did not meet. But the legislative session doesn't end with this calendar year. It ends with the next one. Doesn't this have to be approved BOTH by the House & Senate by 12/31
December 5, 20195 yr 13 minutes ago, simplythis said: Doesn't this have to be approved BOTH by the House & Senate by 12/31 Not until 12/31 at the end of a legislation session. Legislative sessions are two years long. This one started on Jan. 1, 2019. It ends Dec. 31, 2020. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 5, 20195 yr 6 minutes ago, KJP said: Not until 12/31 at the end of a legislation session. Legislative sessions are two years long. This one started on Jan. 1, 2019. It ends Dec. 31, 2020. So Basically last years bill came along Mid-Session. This years bill will unfortunately drag on for another year, unless you know something otherwise.
December 5, 20195 yr Legislative rules generally do not allow a bill to be introduced after April in the second year of a legislative session because the chances of it getting through the committees of both houses and passed by both houses before the end of the session is unlikely. In 2018, the TMUD legislation (HB469) was introduced in January and later substantially amended which reduced its chances of passage by the end of the session. This time around, the legislation was introduced in February -- early in the first year of the new session. It's gone through the Senate already and, since a nearly identical bill passed the House last year and almost no opposition to the bill has surfaced this year, it has no political headwinds. Just the left-leaning Policy Matters Ohio has opposed it. Not even the Koch's Americans for Prosperity has spoken out against it so far, unlike last year. If it doesn't get reported out of committee next week, the bill should see some activity in Late January or perhaps in February. The House has already schedule multiple sessions next year, unlike the Senate which hasn't scheduled anything. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 6, 20195 yr And....here we go Announcement of Committee Meeting COMMITTEE: Economic and Workforce Development CHAIR: Paul Zeltwanger DATE: Wednesday, December 11, 2019 TIME: 10:00 AM ROOM: Room 114 Agenda Bill - Sub. S. B. No. 39 Sponsor - Sen. Schuring Title - Authorize insurance premiums tax credit for certain projects Status - 5th Hearing Prop/Opp/IP "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 6, 20195 yr 4 minutes ago, KJP said: And....here we go Announcement of Committee Meeting COMMITTEE: Economic and Workforce Development CHAIR: Paul Zeltwanger DATE: Wednesday, December 11, 2019 TIME: 10:00 AM ROOM: Room 114 Agenda Bill - Sub. S. B. No. 39 Sponsor - Sen. Schuring Title - Authorize insurance premiums tax credit for certain projects Status - 5th Hearing Prop/Opp/IP 5th hearing? What is left to talk about, especially since this is the second go around in the house?
December 6, 20195 yr 10 minutes ago, Htsguy said: 5th hearing? What is left to talk about, especially since this is the second go around in the house? A fine question. Unless the Koch'ers decided they wanted to say something after all.... "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 11, 20195 yr WEDNESDAY, DECEMBER 11, 2019 Transformational real estate development tax credit bill sees big changes A proposed Transformational Mixed-Use Development (TMUD) tax credit pending before the state legislature was substantially amended today during a hearing of the Ohio House of Representatives' Workforce & Economic Development Committee. Six changes were accepted by the committee that further refined the proposed law, Substitute Senate Bill 39. Most of the changes would link the release of tax credit awards more closely to the amount of state and local taxes generated by the credit. MORE: https://neo-trans.blogspot.com/2019/12/transformational-real-estate.html "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 11, 20195 yr So with the amendments, if it ever does get voted out of the House, does it have to go back to the Senate or do they form a conference committee like in the US Congress?
December 11, 20195 yr How much of the 10 percent does Stark need to ink out the deal? Could a switch to 5 now and 5 later blow up his plan? Or was the 5/5 a stipulation of the original bill, too? Please excuse my ignorance here—TMUD proposed legislation was not high on my reading list. ?
December 11, 20195 yr Correct me if i am wrong, but the way i see it this amendment makes it more difficult for nucleus & 925 to go forward with construction. Nucleus could miss out on this. Kind of reminds me of years back when the former may co developer ( can't remember their names ) ( i think rainey ) introduced the 25 milliion catalytic tax credit which they needed to go forward with the development of the may co building and it was awarded to 925. This time Stark introduced the bill and could be left out.
December 11, 20195 yr 33 minutes ago, Htsguy said: So with the amendments, if it ever does get voted out of the House, does it have to go back to the Senate or do they form a conference committee like in the US Congress? Conference committee "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 11, 20195 yr 1 hour ago, KJP said: WEDNESDAY, DECEMBER 11, 2019 Transformational real estate development tax credit bill sees big changes A proposed Transformational Mixed-Use Development (TMUD) tax credit pending before the state legislature was substantially amended today during a hearing of the Ohio House of Representatives' Workforce & Economic Development Committee. Six changes were accepted by the committee that further refined the proposed law, Substitute Senate Bill 39. Most of the changes would link the release of tax credit awards more closely to the amount of state and local taxes generated by the credit. MORE: https://neo-trans.blogspot.com/2019/12/transformational-real-estate.html Another great article! How long do you think it will take before this becomes law? Do you think it will really help both nuCLEus and Centennial projects be completed? And what is the timeline of when these projects could be approved for the tax credit IF it becomes law?
December 12, 20195 yr Thanks. I can't predict the future, however. I only report on what has happened. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
December 12, 20195 yr On 11/14/2019 at 6:07 PM, Frmr CLEder said: They seem determined to stall, prohibit, defund, deny any project that could benefit the economic development of the state's urban centers. Or perhaps they're delaying the bill in the hope that it will result in developers providing them with campaign contributions in advance of next year's election. It's just more of the same. Disgusting. I agreed because it seems like both of the OHIO chambers is controlled by rural politics. They know that it's HIGHLY UNLIKELY that a major mix use project would be built in their districts and so they DON'T CARE about potential new laws like the proposed Transformational Mixed-Use Development (TMUD) tax credit. Their only hope would be a warehouse or manufacturing project thats built on farm land that some how qualify for the TMUD. Thats why its smart they charged the bill to increase the historical tax credit for RURAL AREAS from 25% to 35% since there districts are more likely to qualify for this type of tax credit. And they added more controls and restrictions to show the budget hawks that tax credit won't run out of control.
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