DOWNTOWN Other CIC issues

Also Tuesday, the CIC property committee:
Heard a staff recommendation to rent space in the Semple building on West Federal Street to the Insurance Center of Youngstown. The space is in the recently vacated Health Food Store. Kohler and Associates Inc., another insurance firm, also will be offered space in the Semple building, but two doors away from the old health store. Kohler will be given a 20 percent to 40 percent credit against the rent because that space needs some renovations. Kohler also has a grant available from Nationwide Insurance that might help fund those renovations, CIC staff said.
Talked about a state request to cut 1.5 percent from the 3 percent increase in rent. The rent comes from the eight state agencies located in the George V. Voinovich Government Center, which the CIC operates. The state was to pay the increase in its next two-year leases, which are to begin July 1. The state cited budget cuts for the request. The CIC will negotiate with the state. Financing for the office building was based on a 3 percent rent increase every two years. A cut that would amount to a $13,000 to $14,000 loss would be difficult, CIC staff said.