Canal Winchester adopts economic development plan to begin Miller Farms TIF process
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Summary
Council adopted Resolution 26-008 to approve an economic development plan paving the way for an incentive-district tax increment financing (TIF) tied to the Miller Farms housing development; staff said the TIF would be structured in three districts and typically runs 30 years.
Canal Winchester City Council on Feb. 2 adopted Resolution 26-008 authorizing an economic development plan that starts the process to create an incentive-district tax increment financing (TIF) for the Miller Farms development.
City staff explained the measure is a preliminary step: the plan lays out three separate incentive districts for single-family, multi-family and townhomes and spells out the public infrastructure improvements eligible for reimbursement through the TIF. "This is the first step in creating a TIF associated with the Miller Farms development," said Lucas Hare during the discussion.
Hare told council the incentive-district model is necessary because the proposed project includes single-family residential property; the plan’s legal descriptions separate ownership parcels so each owner’s area can be managed independently. He described the city’s approach to eligible costs as intentionally broad to allow flexibility for future public improvements.
Councilmembers asked about timing and duration. Hare said, "TIFs are typically for 30 years," and explained the city will return in March with an ordinance to create the actual TIF district. He also warned that the TIF redirects potential revenue from other taxing entities and that the county and township levies include protected components that must be made whole through payments over the TIF term.
On risk, Hare said the intergovernmental arrangements and anticipated development should cover most costs but noted a contingency if development lags. He told council the city’s maximum exposure if development does not materialize could be roughly $300,000 a year during the early debt period.
The council moved the resolution from the work session to the regular meeting and adopted it by roll call vote at the council meeting. The adoption authorizes staff to proceed with formal TIF-creation steps but does not itself create a TIF; council will consider the enabling ordinance in a future session.
Next steps: staff will return with the TIF ordinance and detailed legal descriptions and cost schedules in March. Councilmembers said they expect continued public notices and the standard sequence of hearings before any district is finalized.
