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Harrison council approves TIF ordinance; attorney explains referendum, school compensation
Summary
Council approved a tax-increment financing (TIF) ordinance Oct. 21 that establishes a TIF area, creates a tax increment equivalent fund, includes a school compensation agreement with Southwest Local School District and declares an emergency to shorten referendum timing, city counsel said.
The Harrison City Council voted Oct. 21 to approve an ordinance establishing a tax-increment financing (TIF) area and related tax increment equivalent fund under Ohio Revised Code section 5709.40(b), city special counsel Andrew Spore said during the meeting.
Spore told the council the ordinance "is just establishing the tax increment area" and "it's not actually committing any funds to any purpose at this point,"…
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