Powell Development Corporation Board Meeting – October 27, 2026

The Powell Development Corporation (PDC) met on October 27, 2026. The board approved previous minutes, voided inactive facade and business-retention grant agreements, approved its mission/vision and goals, and reviewed the proposed 2027 operational budget and a ChargePoint rate analysis. Final action on the budget and EV charging rates was deferred to the November meeting.

Call to Order, Roll Call, and Approval of Minutes

• Roll call was taken; Steve Larity, Sean Keller, and Tim Wilson were absent.
• The board unanimously approved the minutes of the September 22, 2026 PDC meeting and the September 22, 2026 PDC Planning Retreat.

Treasurer's Report

• September revenues were $2,856, including bank interest and ChargePoint revenue; total September expenses were $10,410.
• Significant expenses included audit fees related to the 2025 engagement and an Ohio Auditor of State invoice of roughly $1,700.59.
• September net income was a loss of $7,554; the available bank balance at September month-end was $296,000, and outstanding items had cleared by October.
• Discussion noted a sharp drop in valet usage, with 47 cars parked in September, and a plan to review valet and year-end expenditure line items.

Old Business

• Facade grant agreements voided: The board unanimously voided three unpaid facade grant agreements after staff explained that the projects had changed or would not proceed: 36 N. Liberty/Cohiba ($25,000), 22 S. Liberty/Espresso 22 ($12,500), and 5 S. Liberty/Kraft House #5 ($22,500). The agenda listed the first property as 35 N. Liberty; staff clarified that the correct address is 36 N. Liberty.
• Nocterra performance-based grant voided: The board unanimously voided the second-year component of Nocterra's Business Retention and Expansion grant, which had authorized up to $25,000 for distribution-network legal expenses. Nocterra is no longer operational; the first-year payout had been $23,855 and was used for a delivery vehicle.
• Mission, vision, and goals: The board unanimously approved the proposed mission and vision statement and the related 2027 goals.

Proposed 2027 Operational Budget

• Staff reviewed a proposed 2027 budget with revenues of roughly $598,000, including a $400,000 CIP funding line, $25,000 tourism-budget carryover, $20,000 ChargePoint revenue, $10,000 interest, and a new $10,000 sponsorship line.
• Expense projections included increased charging-station utility costs of about $45,000 and $24,000 in rent for an additional CoHatch office space; no valet program or strategic-land line was budgeted.
• Board members asked for clearer year-to-date operating-surplus presentation, discussed whether to add a strategic land-acquisition placeholder, and suggested a larger marketing/communications budget for the planned new staff position.
• The board decided to table formal action and consider a revised draft in November.

ChargePoint Rate Analysis

• Staff reported that the Murphy Park and City Hall charging program is not break-even and presented a recommended rate structure change from per-minute to per-kilowatt-hour pricing at 46 cents per kWh.
• Comparable central Ohio fast-charger rates ranged from 26 to 51 cents per kWh. No formal action was taken; the board will revisit the issue at the next meeting.

Reports and Committee Updates

• City Council/City Manager: Council's 2027 budget will be presented at the Wednesday council meeting because Election Day displaces the usual Tuesday meeting. The report highlighted a $61 million five-year capital improvement program, three new full-time equivalent staff positions, record police staffing with 12-hour shifts, population growth from roughly 13,000 in 2020 to about 18,000, and regulatory work on e-bikes and massage-parlor/human-trafficking issues.
• Economic Development: Staff reported strong 2026 year-to-date activity: 43 new businesses or startups, a 126% increase; 818 full-time equivalents; $64.42 million in new payroll; and more than $208 million in capital investment. The report also cited 196 business retention/expansion interactions, 20 retained or expanded businesses, and an estimated $1.3 million in annual new income tax for the city.
• School Report: Materials were included in the packet; no oral presentation was made.
• Chamber of Commerce/BRE: The Chamber executive director reported nearly 380 member businesses, 20 Saturdays of farmers markets, a fall street market, a Taste of Powell event with about 1,600 tasting tickets, and a sold-out Women in Business luncheon. The Chamber is planning around member feedback from 11 listening sessions and will hold a board retreat.
• Downtown Merchants Committee: Staff are restructuring the committee, and the committee discussed the upcoming Village Green master plan workshop on November 12 at 6 p.m. It was noted that many older plans exist, but implementation requires funding and continued public process.
• Remaining reports from the convention/tourism, entrepreneurialism, and real estate committees were not delivered because those members were not present.

Key Outcomes

• Unanimously approved: September meeting and retreat minutes; voiding three facade grant agreements; voiding the Nocterra grant; mission/vision statement and 2027 goals.
• Deferred to November: 2027 operational budget approval and ChargePoint rate-structure decision.
• Upcoming dates mentioned: Village Green master plan workshop November 12; Mayor's office hours November 16, 4-6 p.m.; a revised budget and EV charging discussion at the next PDC meeting.
• The meeting was adjourned.