The city of Toledo is planning to launch a new grant program that would incentivize private investment by identifying and reducing pre-development barriers.
The department of economic development is asking city council to authorize the expenditure of $80,000 to implement the Property Readiness Evaluation, or PRE, Grant Program that would address two barriers to real estate development: the lack of site readiness and pre-development due diligence.
“One of the challenges that we continuously encounter when we’re looking at rebuilding sites in our community, is that there’s chronic vacancy and underutilization of sites … and when we’re trying to attract investment, there’s either a perceived or real risk associated with redeveloping these sites,” said Brandon Sehlhorst, the city’s chief of growth…