FOR IMMEDIATE RELEASE
June 12, 2006

Columbus, OH -- COLUMBUS - Lieutenant Governor Bruce Johnson today announced that $750,000 from the Clean Ohio Assistance Fund (COAF) has been awarded to the City of Toledo for brownfield remediation activities.

"This funding is designed to help communities transform former distressed sites into viable locations for future economic development," said Johnson, who also serves as state development director. "By preparing this brownfield site for new investment, we are demonstrating that 'Ohio Means Business.' I'm confident that these efforts will lead to future economic and community investment that will result in the creation of good jobs in Toledo."

The City of Toledo plans to use the funds for the remediation and demolition of the former Westgate Village Shopping Center located at 3301 West Central Avenue. The 21.39-acre property consists of five parcels and is owned by the Westgate Village Shopping Center, LLC (Westgate). The total cost estimate for remediation and demolition of this site is more than $2.9 million; the City of Toledo will contribute $500,000 for on-site improvements, while Westgate will contribute more than $1.6 million for the remainder of activities.

Westgate will develop the western two-thirds of the property for a new COSTCO Wholesale Club, the other one-third of the property will be developed into retail buildings. It is anticipated that COSTCO Wholesale will create 188 new jobs. The redevelopment cost is estimated at $35 million.

The State Controlling Board today approved the funds, which were awarded from the $10 million COAF. Funds must be used for Phase I and II Environmental Assessments, brownfield redevelopment or public health projects. Projects located in situational distressed, inner distressed, distressed or labor surplus cities are eligible for funding. Projects are evaluated based on economic benefit; environmental improvement, including public health benefit; appropriateness and reasonableness of the proposed project and the financial condition of the community.