City asked to clear the way for Casto project

FINDLAY — Findlay Council's Finance Committee continues to review a proposed 21-acre land purchase and related public infrastructure work that city officials say is necessary for the Casto Communities housing development to proceed. The committee will meet again at 4 p.m. on March 3 at the Findlay Municipal Building, 318 Dorney Plaza. Andrew Brossart, a financial adviser to the city, is expected to present financing options. Brossart will review cash‑versus‑debt options, potential fund allocations and how the proposed borrowing would affect the city's debt capacity. The meeting is open to the public and will be livestreamed. Public comment will be taken. Speakers must request to be placed on the agenda by emailing ClerkOfCouncil@FindlayOhio.gov with their name and topic. The Finance Committee is chaired by Councilmen BJ Preston, R-2, and includes councilmen Dan DeArment, R-4; Rodney Phillips, R-6; Dan DeLong, R-7; and L. Reed Needles, R-at-large. At its Feb. 3 meeting, the committee was told that the 374‑unit Casto project, planned east of Wellness Way near the diverging diamond interchange on Interstate 75, cannot advance until the issues are resolved. According to city officials, the Casto development depends on both pieces of the proposal — the 21‑acre land purchase and construction of the connector road with utilities — to move forward. Committee members questioned why the city should buy the 21‑acre parcel and whether the Casto project ought to depend on a city‑funded land deal and connector road. They also asked how borrowing for the project would affect the city's broader capital plans and debt capacity. Casto, a Columbus-based residential developer, is planning a mix of townhomes and one‑, two‑ and three‑bedroom apartments, along with single‑story options, and amenities such as a clubhouse, pool, fitness center, coffee bar and internal sidewalks. The project is expected to take about 24 to 28 months to build. City officials have stated that multiple property owners in the area have raised similar concerns, saying that they cannot fully develop their land without new roadway access across neighboring parcels. The proposed access route would include a north–south connector from County Road 99 to Midwest Court, crossing multiple privately-owned parcels. The area falls within the County Road 99/I-75 tax increment financing district (TIF), which the city approved in 2024 to fund public infrastructure improvements in the corridor. The TIF re-directs future tax collections on increases in property value toward eligible projects, including road, water and sewer extensions. Tax collections for Van Buren Local Schools will not be redirected. The city has also negotiated participation agreements with Casto and two neighboring property owners. Under those agreements, Casto would contribute $140,000 per year for 10 years, while two neighboring owners would provide $500,000 up front to help offset the city's cost. The 21‑acre tract lies along the preferred alignment for the planned connector road and utility extensions. Developers offered the parcel after determining it was only partially usable due to wetlands and layout constraints. No development is planned for the site itself. The purchase would ensure the city can place the roadway and utilities where needed and would also preserve room for a potential pedestrian‑bridge connection over I‑75 should the city pursue one in the future. To bundle the land purchase and infrastructure work, the city is considering borrowing $2.75 million, with annual debt service estimated at $333,000 over 10 years at an interest rate of 3.75%. Both Casto and another nearby project are aiming for summer 2026 groundbreakings.