Powell Development Corporation Meeting - September 22, 2026

The Powell Development Corporation met on September 22, 2026, in Council Chambers at 47 Hall Street, Powell, Ohio. Members present: Megan Canavan, Steve Flarity, Brian Jenkins, Heather Carr, Philip Whitaker, and Andrew White. Absent: Mark Goodwin, Sean Keller, and Tim Wilson. The board approved minutes, reviewed financials, approved a sponsorship for the Powell Women in Business Luncheon, and authorized an option agreement for the Home Road 10-acre property.

Consent Calendar

• Approved the minutes from the August 25, 2026 regular meeting and the planning retreat meeting, both unanimously.

Discussion Items

Report of the Treasurer

• Tina presented the August financial report: revenue of $152,413 (including $150,000 in quarterly CIP funding, $910 interest, and $1,500 recharge point revenues). Expenses totaled $7,748 (mostly $3,400 for charging station invoice and $3,100 for valet invoice), resulting in net income of approximately $145,000. She noted outstanding checks that cleared in September.
• A motion to increase the charging station utility cost line item by $10,500 for the remainder of the year passed unanimously.

Powell Women in Business Luncheon Sponsorship

• Representatives requested sponsorship for the upcoming Women in Business luncheon, emphasizing its growth and elevated programming, including a keynote speaker and panel. They proposed a presenting sponsorship at $5,000 with scholarship seats for young women. The board discussed the value of visibility for the city and the opportunity to send female employees and scholarship recipients. A motion to appropriate $5,000 for a presenting sponsorship with scholarship benefits passed unanimously.

Home Road 10-Acres Option Agreement

• The board reviewed a proposed option agreement with EXXCEL Project Management for the 10-acre Home Road property. The agreement is intended as a partnership, with projected ROI of 5.3% annually and 102% total return over 15 years from income tax generation. A tech company is interested in building a 100,000-square-foot headquarters. The real estate committee vetted the proposal. A motion to authorize the chair to execute the agreement passed unanimously.

Reports from Boards and Committees

• City Council: Reported on 2026 street and path maintenance, acceptance of an ODNR grant for Bennett Farms pathway, a moratorium on marijuana-related businesses, a parking agreement, the CIP for 2026-2031 ($60 million), and the failure of a referendum petition against the zoning code.
• Economic Development: Reported 39 active projects, 41 new businesses/startups, 816 full-time equivalent positions, $64.1 million in new payroll, $28 million in capital investment, and 183 business retention and expansion interactions.
• School Report: Provided updates on Olentangy Schools, including construction progress on Shanahan Parkway and the new high school, with completion expected by fall 2028.
• Other reports (tourism, entrepreneurialism, real estate committee) noted ongoing efforts and collaboration.

Key Outcomes

• Approved minutes (unanimous).
• Approved $10,500 increase for charging station utility budget (unanimous).
• Approved $5,000 for Powell Women in Business presenting sponsorship with scholarship seats (unanimous).
• Authorized execution of Home Road option agreement with EXXCEL Project Management (unanimous).

Note: All votes were unanimous among present members.