Beavercreek holds public hearing on proposed Grange Hall Road TIF for Wrightwood Springs development

Beavercreek City Council held a public hearing Aug. 11 on a proposed tax increment financing (TIF) incentive district for a 54-acre housing project called Wrightwood Springs, council members were told. The hearing is a statutory step required under the Ohio Revised Code; no ordinance or vote was taken at the meeting.

City staff member Lonsbury described TIFs as an economic development tool established through the Ohio Revised Code that redirects payments in lieu of taxes (PILOTs) toward public infrastructure rather than the standard distribution to taxing entities. The proposal discussed at the hearing would split the development into four incentive districts and use a 75% exemption for a rolling five-year period in each district once improvements in that district reach $6.5 million, Lonsbury said. He said a 100%/30-year TIF is possible under state law but the city is proposing the shorter 75%/five-year structure to limit school funding impacts.

Lonsbury gave project figures: the Wrightwood Springs…