The Urbana Planning Commission has approved plans for Richwood Bank to develop property at 301 and 313 South Main Street, allowing the project to move forward after several weeks of discussion.
The proposal had previously been delayed due to questions surrounding the historic status of the house located at 313 South Main Street.
According to information provided to the city, the property is listed on the Ohio Historic Inventory, but that designation does not place it on the National Register of Historic Places and does not provide protections that would prevent development. City officials also noted the property is not located within one of Urbana’s historic districts or the City’s Heritage Overlay District.
Questions were also raised about whether the project would require review under Section 106 of the National Historic Preservation Act. Legal counsel for Richwood Bank informed city officials that the project is not subject to that review process because the bank is regulated by the Federal Reserve and is not using federal funding that would trigger those requirements.
During the public hearing process, numerous people spoke in favor of the project. Supporters included representatives from the Champaign, Logan, and Union County Chambers of Commerce, along with residents and business leaders who highlighted Richwood Bank’s involvement in the communities it serves.
Richwood Bank President and CEO Chad Hoffman describes what getting into Urbana means for the business and what they hope to accomplish as they serve the Champaign County community.
Richwood Bank, headquartered in Richwood, Ohio, describes itself as a community-focused financial institution that combines modern banking services with local decision-making and customer service. In addition to traditional banking, the company is known for supporting local nonprofits, promoting financial literacy programs, sponsoring community events, and operating its Richwood Coffee initiative, which helps support charitable causes.
Supporters told commissioners they believe the bank’s investment in downtown Urbana will bring additional opportunities for business growth and community engagement.
With the Planning Commission’s approval, the project can now continue through the city’s development process.
