Explanation
Background: Huntington is proposing an expansion of its current headquarters and administrative operations in Columbus at facilities located in multiple areas across the City. Huntington will consolidate these operations in their headquarters at Broad and High Streets downtown (parcels 010-023445 and 010-036581), the current Easton Oval Operations Center (parcel 520-250985) and construct a new Operations Center located at the former Meijer’s at 5555 Cleveland Avenue (parcel 010-143750). The current Huntington operations centers at 2361 Morse Road and 7575 Huntington Park Drive will be consolidated into the above locations based on business timing and need.
Huntington will invest an estimated $19,500,000 to redevelop (±) 212,000 square feet of administrative office space at the 5555 Cleveland Ave Site; retain all current employees (the total of which will be determined based off of the businesses 2016 annual report) to the above sites and create 1000 new full-time jobs with an annual payroll of approximately $60 million for the new jobs.
Huntington has also committed to $300 million in new community lending in low to moderate income census tracts within the City of Columbus. This will be comprised of:
· $175 million in small business lending in Columbus low-to-moderate income census tracts (LMIT) with focused outreach in Linden and Northland.
· $25M in mortgage lending in all Columbus LMIT in which Huntington National Bank will pay all closing costs for these lending transactions. In addition to larger transactions, to further support neighborhood revitalization, Huntington National Bank commits to create a smaller dollar unsecured home improvement loan product with a max $3,000 loan amount at 2.99% in all Columbus LMIT. Targeted resident outreach will focus in the in Linden and Northland neighborhoods.
· $100 million in community development loans and investment throughout Columbus LMIT.
· $500,000 donation that Huntington National Bank will make ...
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