Week in Review: Renovatio’s, 20 Federal, Boardman Real Estate

YOUNGSTOWN, Ohio — Renovatio’s Tap Room and Restaurant celebrated its grand opening April 30 by transporting customers back to the Roaring 20s.

Owners renovated the former Potters Bank and Trust at 200 E. Fifth St. for months before finally opening the building that had sat empty for years. Partners Craig Cozza and Randy Schneider invested $1.1 million on the project.

“We had to make it great. I’m very excited about it. We did everything we wanted to do. You can have a pizza, you can have a burger, you can have a beer, you can have a steak or the most expensive cognac in the world here,” Cozza says. “Because that’s what people want.”

Click HERE to read the story.

Developers from Across Country Tour 20 Federal Place

YOUNGSTOWN, Ohio – With about a month to go until proposals for redeveloping 20 Federal Place are due, the city of Youngstown hosted tours of the building Monday, drawing developers from the Mahoning Valley and far beyond.

In all, about 30 people spent three hours walking through the 95-year-old former department store. Nine development firms from across the country were on the tour, according to Doug Rasmussen, president of consulting firm Steadfast City, which is working with the city on the project. You can read the story HERE, or click HERE to watch the 3 Minutes With interview.

Two Properties Sold in Boardman, Including Former Pizza Hut

BOARDMAN, Ohio — Two commercial properties in prime areas of Boardman were sold April 30: one for $800,000 and another for $600,000.

The former Pizza Hut located at 8535 South Ave. was sold to Day 2 Day Properties LLC for $600,000, according to documents from the Mahoning County Auditor’s website. Also, 860 Boardman Canfield RD LLC closed on the property at 860 Boardman Canfield Road for $800,000. Click HERE for more.

Lordstown Motors Investors Sue Executives, Directors, Alleging Misconduct

YOUNGSTOWN, Ohio — Another lawsuit was filed in U.S. District Court alleging investors in Lordstown Motors Corp. lost more than $1 billion as a result of misconduct and negligence by the company’s executives and directors. According to court documents, the complaint alleges statements regarding business, operations and prospects issued by Lordstown Motors “have devastated Lordstown Motors’ credibility and caused the company to lose more than $1 billion in market capitalization.” Read more HERE.

Also reported last week, Lordstown Motors fulfilled its full tax obligation – plus a 10% penalty – to Trumbull County after it missed a payment for first-half real estate taxes in March. Records from the Trumbull County Auditor’s office show that Lordstown Motors paid on April 28 a total of $570,958.36 on four parcels it owns in the village. It also paid a 10% late penalty of $57,095 on the properties, records show. The first-half taxes for the 2020 tax year were due March 5. Click HERE for that story.

Copyright 2021 The Business Journal, Youngstown, Ohio.