The agreement says the developer needs to complete the project by the end of 2020. The forgivable loan would pay for hard construction costs like exterior improvements, city documents show.
The city also plans to help the project by authorizing a special assessment to help finance energy efficient upgrades.
Windsor Companies took over the redevelopment of the Fire Blocks District from the Ellway Group, which announced big plans to transform multiple buildings in the district that failed to gain traction.
Windsor Companies already has acquired a handful of buildings in the district, which is centered around the 100 block of East Third Street, and may pursue others. The developer has acquired the Price Stores building (52 S. Jefferson St.) and the Dayton Power & Light building (18 S. Jefferson St.).
Windsor also is working to overhaul the office building at 124 E. Third St.
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