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Finance committee advances TIF ordinance for Dewey Road improvements to full council
Summary
The Finance Committee voted 6-0 to send an ordinance creating a tax-increment financing district to pay for public infrastructure improvements tied to the Dewey Road development, including road widening, sidewalks and sewer work.
The Amherst Finance Committee voted 6-0 to send ordinance A25-14 to the full City Council with emergency consideration, beginning the formal process to create a tax-increment financing (TIF) district intended to fund public infrastructure improvements related to the Dewey Road development.
The ordinance would authorize TIF financing for projects outside the private development footprint, including road widening, sidewalks to improve walkability, a lift station and sewer work, and potential park partnerships with Metroparks. Dean Spohr, of the law firm Thompson Hein, told the committee, “This is the beginning of the process to establish tax increment financing districts for this project. It's really the intention the is up for vote and considered for adoption.”
Committee members pressed for details on how the TIF will operate. Spohr said the ordinance is intended to…
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