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Beavercreek explains Grange Hall development plan, 75% TIF for infrastructure and new community authority
Summary
City officials said a proposed Grange Hall Road development would use a tax-increment financing (TIF) arrangement to reimburse infrastructure costs, with 75% of new value directed to a local TIF fund and 25% flowing to regular taxing districts; a related new community authority (NCA) is scheduled for a public hearing Sept. 22.
City officials addressed a planned residential development on and around Grange Hall Road, explaining the financing tools that would support off-site and on-site infrastructure improvements and describing the public process ahead.
City Manager Pete Landrum told the town-hall audience the development agreement includes a tax-increment financing district that would divert 75% of the new incremental tax value in the development area into a TIF fund for infrastructure and related capital work; the remaining 25% of incremental value would continue to be distributed to schools, township and other…
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