The Property Readiness Evaluation (PRE) Program provides targeted pre-development funding to advance transformative economic development projects in the City of Toledo.
Program Goals
The PRE Program will:
- build a pipeline of shovel-ready, investment-ready development projects
- identify, reduce, or eliminate barriers that prevent or delay development
- create or retain high-quality, well-paying jobs
- deliver new, quality housing and mixed-use development
- generate an outsized economic and community impact by catalysin additional public and private investment beyond the project site
Priority is given to projects located in:
- Legacy Commercial Corridors
- Neighborhood Revitalization Strategy Areas
- Low-to-Moderate Income Census Tracts
Eligible Applicants
This program is open to property owners, developers, nonprofit and for-profit corporations, and neighborhood-based organizations seeking to advance commercial or industrial development projects within the City of Toledo.
To be eligible for funding, applicants must demonstrate site control at the time of the application, and be in good standing with the City of Toledo's:
- Division of Taxation (419-245-1662)
- Public Utilities account (419-245-1800)
- Division of Code Compliance (419-245-1600)
- Lucas County Auditor for property taxes (419-213-4406)
Program Funding
The PRE Program reimburses up to 100% of eligible project costs for qualified environmental and site readiness projects.
Awards are subject to funding availability, project competitiveness, and program requirements. The city may award less than requested, fund a portion of the proposed project, or require additional conditions to protect the public interest.
The City will reimburse up to $20,000 for selected projects.
Eligible Expenses
The PRE Program is focused on preparing commercial and industrial sites for development.
The funding in this program supports:
- Phase I and II Environmental Site Assessments (ESA)
- Asbestos and universal waste assessments
- Geotechnical and engineering reports
- Archaeoligical and wetland surveys
The City will also provide funding with a match for:
- Market and feasibility studies
- Building conditions assessments
- Conceptual site plans and massing studies
- Utility capacity and infrastructure analysis
- Cost estimating and prelimnary development budgets.
Ineligible Properties
This program is open to most commercial and industrial buildings and sites located in the City of Toledo. This program does not support properties intended for:
- Payday lending
- Pawn shops
- Firearm/weapon sales
- Adult entertainment
- Self-storage
- Tobacco, vape, or marijuana retail
- Internet cafés
- Car washes
Project Evaluation
Applications are reviewed by the Incentive Advisory Committee (IAC) and recommendations are forwarded to the Mayor for final approval.
| Criteria | Scoring | Weight | Max Score |
|---|---|---|---|
The proposed work moves the project to the next development milestone. | 1-5 pts. | 7 | 35 |
| The project is ready to proceed and work will be completed this year. | 1-5 pts. | 5 | 25 |
| The project will create a significant economic or community benefit. | 1-5 pts. | 5 | 25 |
| The project is located in a Legacy Commercial Corridor, Neighborhood Revitalization Strategy Area, or in a Low-to-Moderate Income Census Tract. | 0/5 | 3 | 15 |
Total | 100 |
Projects must receive a minimum score of 75 points to be considered for funding.
Post-Award Requirements
Awarded applicants will enter into a grant agreement before work begins and must provide documentation to receive reimbursement.
Awardees must:
- Complete the approved scope of work
- Submit final reports, studies, and plans
- Provide itemized invoices and proof of payment (check copies or bank statements)
- Submit all reimbursement materials by December 1
All materials must be submitted in their entirety , including:
- Appendices
- Exhibits
- Technical documentation
Note: Expenses incurred before the grant agreement is executed are not eligible for reimbursement.