CITY OF DAYTON CITYWIDE DEVELOPMENT CORPORATION FOR IMMEDIATE RELEASE

Contact:

Gwen Eberly, Acting Director
City of Dayton Office of Economic Development
(937) 333-3805 OR

Steve Budd, President
CityWide Development
(937) 853-2547

DAYTON CITY COMMISSION VOTE SETS TECH TOWN'S CREATIVE TECHNOLOGY ACCELERATOR INTO MOTION

The Architectural Group Awarded First Tech Town Building Contract. CityWide Development will Serve as Project Manager. Construction will Begin in the Spring.

Dayton, Ohio, February 22, 2007--Dayton City Commissioners voted last night to approve two key Tech Town initiatives, paving the way for construction of Tech Town's first new building, the Creative Technology Accelerator, to begin in the spring.

The Architectural Group, a Dayton firm, was approved by the City Commission as the architect for the new facility, which will house smaller, established businesses striving to develop and commercialize new technology products. Headed by Rick E. Holmes and Norman D. Butt, The Architectural Group was founded in 1990 and has a staff of 11.

“It’s great to see a strong local firm win the first Tech Town building contract,” said Norm Essman, Tech Town Redevelopment Director. “I’m confident The Architectural Group has what it takes to make the Creative Technology Accelerator a memorable and functional building that fits with the overall vision for the Tech Town environment.”

The Commission also voted to approve CityWide Development Corporation as the project manager for the construction of the Creative Technology Accelerator. This vote includes approval to provide CityWide with funding for this specific project. The City will enter into a contract with CityWide whereby CityWide will serve as project manager on behalf of the City for this building project. Last summer, the City contracted with CityWide to serve as development manager for Tech Town as a whole.

“Tech Town is truly taking shape now, after a lot of meticulous analysis and planning as well as consensus-building and funding at all levels,” said Steve Budd, President of CityWide Development Corporation. “All of that was necessary to succeed with a project of this magnitude. Now it’s time for action.”

Rashad Young, Dayton City Manager, agreed, saying, “These latest steps in the Tech Town process are giant ones, and it’s exciting to see the vision moving forward to reality. I think, for some Daytonians, it’s been difficult to understand the enormous effect that Tech Town will have on the local economy, but once the buildings start going up and the companies start moving in, it will be very clear.”

The concept of the Tech Town District evolved from CitiPlan Dayton: The 20/20 Vision, the city’s long-term strategic plan which was formally adopted by the Dayton City Commission in 1999. A revised version of CitiPlan was approved by the Commission in 2003. Tech Town is a technology-oriented live/work/play district planned for the eastern edge of downtown Dayton. Consisting of about 30 acres (6 blocks) that will include a high density of technology employers and lots of diverse leisure options, Tech Town is designed to appeal to younger, flexible IT professionals known as the "creative class."

CityWide Development Corporation is a private, nonprofit development firm which offers a full range of services including financing for economic development, housing activities, venture capital, site location, financial analysis, and federal and state financial assistance. CityWide is located at 8 N. Main St., Dayton, Ohio 45402.