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Summer 2018
 

The Top 10 Most Interesting Facts about the Foxconn Deal

In 2017, Foxconn Technology Group (Foxconn) and the Wisconsin Economic Development Corporation (WEDC) reached agreement on one of the largest and most significant economic development projects in history. News reports about the project proliferated after it was first revealed that Foxconn had chosen Wisconsin to build a new state of the art manufacturing facility and technology campus to create Liquid Crystal Displays (LCD). This will be the first LCD manufacturing facility of its kind in North America.  What really grabbed headlines was the size of the project and its ground breaking amount of economic development incentives – which not only became a lightning rod for the national media but also a talking point to showcase an economic success story in speeches by President Trump. Click here to read more.


What Takes Priority – a TIF Exemption or Another Exemption? The Ohio Supreme Court Weighs In

Two important aspects of every tax increment financing (TIF) project in Ohio are (i) determining whether the TIF exemption or another exemption should take priority when two exemptions apply to the same property, and (ii) taking the steps necessary to implement the preferred priority. The Ohio Supreme Court recently weighed in on one aspect of the foregoing in Fairfield Twp. Bd. of Trustees v. Testa, Slip Opinion No. 2018-Ohio-2381 (Fairfield Twp.). Click here to read more.


Seven Interesting Things to Know About the City of Columbus' Proposed Incentives Policy

Earlier this year, the City of Columbus announced it would be implementing a new incentives policy impacting residential post-1994 Community Reinvestment Areas (CRAs) in the city. The goal of the new incentives policy is to support affordable, mixed-use housing development within Columbus. The new policy will require developers with housing projects in certain CRAs to set aside 20% of units for affordable housing.  Half of the 20% must be sold or rented to households making up to 80% of the area median income (AMI), and the other half must be sold or rented to households making up to 100% AMI.  Projects that feature the rehabilitation of a property listed on the Columbus Register of Historic Properties are not subject to the affordable housing requirements. The city has drafted proposed legislation to implement the new incentives policy. Click here to read more.


 

Contacts

William D.G. Baldwin
513.723.4030
wdbaldwin@vorys.com

Karen H. Bauernschmidt
216.479.6141
khbauernschmidt@vorys.com

Aaron S. Berke
330.208.1017
asberke@vorys.com

Kelly B. Bissinger
202.467.8856
kbbissinger@vorys.com

Bryan H. Falk
216.479.6124
bhfalk@vorys.com

Nicholas R. House
216.479.6122
nrhouse@vorys.com

Christopher J. Knezevic
614.464.5627
cjknezevic@vorys.com

Joseph B. Mann
614.464.6313
jbmann@vorys.com

Jacinto A. Núñez
330.208.1046
janunez@vorys.com

J. Theodore Smith
614.464.6232
jtsmith@vorys.com

Lindsay Doss Spillman
216.479.6199
ldspillman@vorys.com

Jonathan K. Stock
614.464.5647
jkstock@vorys.com

Jill S. Tangeman
614.464.5608
jstangeman@vorys.com

Kristin L. Woeste
513.723.4684
klwoeste@vorys.com

Scott J. Ziance
614.464.8287
sjziance@vorys.com


 

 

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This newsletter is for general information purposes and should not be regarded as legal advice. As always, please let us know if you want more information or have questions about how these developments apply to your situation.