City of Piqua and J5 / Klondike sign project agreements

Two of the principal agreements between the City of Piqua and the project entity were signed on the same day: the Development Agreement (which sets the PILOT payment schedule referenced in Ordinance O-18-25) and the Water and Wastewater Agreement (which establishes the developer-funded infrastructure escrow). Both were originally authorized by Resolution R-114-25 on November 3, 2025.

1. Agreement

   Development Agreement signed by both parties

   The Development Agreement between the City of Piqua and J5 / Klondike was signed by both parties. This agreement contains the PILOT (payment in lieu of taxes) schedule — $735,000 per qualifying building annually for tax years 1–5, stepping up to the greater of $735,000 per building or $1,470,000 aggregate plus CPI for years 6–20 — that Ordinance O-18-25 references.

   • Development Agreement, signed (PDF)
2. Agreement

   Water and Wastewater Agreement signed by both parties (addendum unsigned by J5)

   The Water and Wastewater Agreement between the City of Piqua and J5 / Klondike was signed by both parties. The agreement establishes the developer-funded escrow account (up to $75 million per the Water & Wastewater Addendum) for design and construction of public water, sewer, and related infrastructure on or near the project site, in lieu of City borrowing.

   • Water and Wastewater Agreement, signed (PDF)