Council advances Grange Hall Road TIF and approves rezoning for 121-home development after public concern

Beavercreek City Council on Sept. 8 moved an ordinance creating a Grange Hall Road tax increment financing (TIF) incentive district to a second reading and approved a companion rezoning that would allow a 121-home residential planned unit development on about 54.2852 acres.

Council advanced ordinance 25-14 after a public hearing during which residents criticized the size and scope of the road improvements the TIF would help fund and questioned the sale of city-owned land to a private developer. The council also approved ordinance 25-15 on a voice vote, rezoning the property to RPUD 25-4 to allow the development described by the applicant.

The TIF as presented to council will split the project into four incentive districts. When the value of improvements in any one district reaches $6.5 million, a five-year 75% payment-in-lieu-of-taxes (PILOT) period would begin for that district; after the five-year period taxes return to normal distribution. City staff estimated the rolling TIF would generate roughly $5,000,000 over its life and described a development agreement that would reimburse up to $800,000…