Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council considers two TIF districts to fund sewer, water and infrastructure for Turkey Foot Lake development
Summary
Council members and advisers discussed two proposed tax‑increment‑financing districts tied to a multi‑phase residential development at Turkey Foot Lake. The proposal would capture a share of new property‑tax revenue to reimburse developer infrastructure costs; council opened discussion but did not adopt the ordinances at first reading.
New Franklin council members and city advisers discussed proposed tax‑increment financing (TIF) incentive districts intended to fund sewer, water and road infrastructure for a multi‑phase development at Turkey Foot Lake.
The city introduced two ordinances to create Incentive District No. 1 and No. 2 and an accompanying economic‑development plan. The plan and ordinances rely on Ohio’s TIF statute; the presentation cited the relevant sections of the Ohio Revised Code when the program was described to council.
The mayor and city counsel explained how the TIF would work: when new taxable value appears from built homes, a portion of the generated tax increment would be retained to reimburse allowable infrastructure expenses before the remaining dollars flow to the county and school partners. The advisers and the developer’s team described a negotiated split (discussed publicly…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
