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Developer offers to fund $450,000 well-field testing, asks council to allow TIF reimbursement
Summary
A developer-group representative told the council it would pay up to $450,000 to drill test wells on optioned land and asked the village to approve a resolution allowing those exploration costs to be reimbursed from the industrial-park TIF if the testing proceeds.
A representative for K Nova (the Scable family) told the Commercial Point Village Council on Oct. 7 that his group has an option on property they believe could host multiple production wells and offered to front the cost of exploratory drilling—about $450,000—if the council will later permit the village to reimburse that expense from the Rickenbacker Exchange TIF.
The developer representative said the acreage sits near existing municipal wells and the city of Columbus’s facilities and that drilling now could secure additional, redundant water capacity that the village may need as growth continues. He said the cost covers…
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