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Council lets Jefferson South tax-incentive measure lie for second reading after public explanation
Summary
Council agreed to set aside consideration of a proposed Jefferson South tax-increment financing (TIF) incentive district until a second reading after an initial presentation; the measure would exempt 75% of improvements on three parcels for 10 years to fund park and infrastructure improvements within a one-mile radius.
Defiance City Council heard a presentation on a proposed Jefferson South tax-increment financing (TIF) incentive district and voted to let the item lie for formal second reading rather than suspend rules for immediate passage.
City counsel and project representatives explained that Dayton Properties Limited is developing three parcels that will add roughly 90 residential units. The administration asked council to declare the increase in assessed value a public purpose and to exempt 75% of the new improvements from real property taxation for 10 years, with a municipal public improvement tax-increment equivalent fund to capture a portion of the increased assessed value for public improvements.
“...we're asking council to declare the increase in the assessed value of these 3 parcels to be, number 1, a public purpose,” the presenter said, adding the city wants to focus on resurfacing the tennis courts at Palmer Park and other park improvements. The ordinance caption referenced Section 5709.4 of the Ohio Revised Code and a May 6 public hearing; staff noted the law requires at least 30 days between the public hearing and final passage, putting final action after June 10. Council moved to let the measure lie for second reading; the motion to table until the next meeting was made by Mister Hancock and seconded by Mister Corwin and carried without recorded opposition.
Why it matters: The proposed TIF would redirect a share of new tax-equivalent payments toward neighborhood improvements in the development area and within a one-mile radius. Staff said the city does not yet have a final estimate of the incremental assessed value or projected revenues and therefore is not committing to specific dollar amounts beyond the proposed park projects.
Next steps: Staff will return with a second reading and more detailed estimates once project numbers are available.
