Morning Briefing | Stratacache Tower faced $1 million in damage from March storm

Stratacache Tower sustained damages exceeding $1 million due to the wind storm in March.

In today’s Morning Briefing, we talk to Chris Riegel, Stratacache founder and chief executive about the damage and what the city is doing to address decaying buildings downtown. We also go over the important details of a U.S. House bill behind potential cuts to the pensions and retirement benefits for federal employees.

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Stratacache CEO: Tower sustained $1 million-plus in wind damage

Stratacache Tower sustained more than $1 million in damage in the March wind storm that ripped an upper parapet from an adjacent downtown Dayton building.

• What happened? Just after the storm on March 15 (a Saturday), some 80 feet of the north parapet wall at 34 N. Main Street “collapsed leaving the remaining wall at the west end in a very unstable condition on the verge of collapse,” Richard Meyer, president of Dayton structural engineering firm Shell & Meyer Associates Inc.

• Stratacache Tower: The building, located next door at 40 N. Main, suffered some 22 windows either blown out or damaged.

• Workers displaced: About 100 employees from the Stratacache building were displaced by the damage initially but have since returned.

• City takes action: In recent days, the city approved spending about $1.95 million on emergency work that will include the stabilization of 34 N. Main St., adjacent to Stratacache Tower.

• What they are saying: “I think it is safe to say that Dayton needs a strategic plan to manage these buildings and to remove unused or decaying old office infrastructure in the city,” Chris Riegel, Stratacache founder and chief executive said. “Without a doubt, that’s a problem, and it’s a problem that has to be addressed.”

Federal retirement benefits could change under proposed bill: We explain the differences

Republicans on a U.S. House panel voted Wednesday to cut pensions and retirement benefits for federal employees. Here are some essential facts to help clarify its details.

• Main change: The bill would raise FERS (Federal Employees Retirement System) employee contribution requirements up to 4.4% of an employee’s salary, for all employees.

The FERS contribution rate is currently a tiered system based on the employee’s hire date. Employees hired on or after January 1, 2014, contribute 4.4% of their salary. Employees hired in 2013 contribute 3.1% of their salary and employees hired in 2012 or earlier contribute 0.8% of their salary.

• Benefit calculation: The current retirement benefit system is based on a federal worker’s highest three years of pay. The bill would change that to a federal employee’s highest five years of pay, with that provision starting in full on Jan. 1, 2027.

• Early retirement: The FERS annuity supplement, which provides additional benefits to employees who retire for up to five years before age 62, will be eliminated under the new bill. Without the supplement, federal employees who retire before age 62 will face a reduction in their retirement income until they qualify for Social Security benefits.

• How many Ohio workers will this affect? About 83,500 workers in Ohio were employed by the federal government at the end of 2024, or about 1.5% of the state’s nonfarm payroll.

About one in 20 workers in the Dayton region were employed by the federal government at the end of 2024 (5% of the total workforce).

• Projected cost savings: The plan would save over $51 billion over 10 years.

• Where the bill stands: The Oversight Committee passed the measure Wednesday. It now goes to the House Budget committee for possible inclusion in a final reconciliation package.

• Local opposition: U.S. Rep. Mike Turner, R-Dayton, voted against the legislation, saying, “I oppose any and all efforts to reduce federal spending by taking money from the hard-earned pensions of federal workers,” the Dayton Republican added. “These pensions are not giveaways — they are promises to federal workers in exchange for their dedicated service."

What to know today

• One big takeaway: Numerous hospitals in the region received “A” grades on safety from an independent national watchdog organization.

• Best of Dayton 2025: Vote for your favorites here.

• Tip of the day: Staying healthy and active is a key to great living at any age. Seniors in the region have more opportunities than ever for fitness, social activities, and good, old-fashioned fun.

• Recall: More than a million Ninja pressure cookers are being recalled because the lid could come open during use and pose a possibly serious burn risk.

• Big move of the day: The former Vitamin Shoppe in Huber Heights is now operating as the Wellness Shoppe after undergoing a rebrand that includes new retail offerings to go along with the new name.

• Rick’s Picks: Selecting this year’s Kentucky Derby winner is easy for this journalist.

• Dayton Food & Dining: Meef’s Pasteria, a family owned Italian restaurant serving homemade pastas, has opened in Beavercreek.

• Inside Ohio Politics: Ohio voters on Tuesday will decide whether to amend the state constitution to issue up to $2.5 billion in bonds for infrastructure.

• Stat of the day: The number of income-based EdChoice vouchers used in private schools in six area counties — Montgomery, Miami, Greene, Warren, Butler and Clark — jumped from 3,058 in the 2022-2023 school year to 12,637 in 2023-2024.

• Happening today: The fourth annual Brick City Mural and Arts Festival returns to Dayton today, featuring more than 80 artists, live music, multiple vendors, interactive art, nighttime lighted art installations and more.

• Community Gem: Joshua Pearson. This clinical pharmacist for Health Partners Free Clinic in Miami County works to meet the Troy clinic’s goal to serve the uninsured and underserved.

• Vintage Dayton: There was a time in Dayton when there were a dozen or more cafeterias operating downtown and around the city.

• Photo of the day: Dayton History and the Oakwood Historical Society hosted Wright at Home at Hawthorn Hill last weekend. The event featured an open-house style guided tour of Orville Wright’s success mansion, built in 1914. Check out more photos from Tom Gilliam here.