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Council holds first readings on TIF and CRA deals for Sheets site, advances CRA with A Plus Powder Coaters
Summary
Council heard first readings of a tax-increment financing ordinance for the Sheets site and two CRA resolutions for A Plus Powder Coaters; supporters said the measures will incentivize redevelopment without reducing school district tax receipts.
City staff and council members discussed incentive measures tied to redevelopment of the property known in the meeting as the Sheets site and related parcels during the May 6 Columbiana City Council meeting.
Mark (staff member) described an ordinance (first reading) declaring improvements to certain parcels as a public purpose and authorizing a tax-increment financing (TIF) agreement. He said the proposal relies on Ohio Revised Code sections 5709.4, 5709.42 and 5709.43 and allows up to 30 years of service payments in lieu of taxes (PILOTs) with the…
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