north-olmsted
$16M Olmsted Town Center JEDD Heads to North Olmsted Public Hearing — Sheetz, McDonald's, Aldi, Condos
North Olmsted City Council is holding a public hearing on a proposed Joint Economic Development District with Olmsted Township that would support the $16M+ Olmsted Town Center development, including a Sheetz, a McDonald's, an Aldi, and residential condominiums.
North Olmsted City Council is opening a public hearing on a proposed Joint Economic Development District (JEDD) with Olmsted Township. The JEDD would support the Olmsted Town Center development — a multi-tenant commercial-and-residential project anchored by a Sheetz convenience store and gas station, a McDonald's restaurant, an Aldi grocery store, and residential condominium units.
The project is expected to cost more than $16 million in total private investment, with the JEDD structure designed to generate roughly $47,000 in annual income tax revenue for North Olmsted from the site's commercial activity.
JEDDs are an Ohio mechanism that lets adjacent municipalities and townships jointly share revenue from a specific commercial development that crosses or sits near jurisdictional lines. They have become a common tool in Northeast Ohio for unlocking commercial parcels in townships while giving the partnering city a share of the income-tax stream those businesses generate.
Public hearing notes are filed under North Olmsted's council minutes archive (record 6183717).
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