West Clermont school board approves Union Township TIF resolution for mixed-use development

The West Clermont Local School District board on Dec. 8 approved a Union Township tax-increment financing (TIF) resolution for the Gurnasty Icolt mixed-use project, a measure staff said preserves the districts share of property-tax revenue through a payment-in-lieu arrangement.

During the presentation, a board member asked for clarification about a paragraph in the agreement that appeared to waive the districts entitlement to the homestead rollback portion of taxes. District staff responded that the make-whole calculation is performed on the full assessed valuation and that, in practice, the district receives an amount intended to be equivalent to what it would collect if the property were taxed. "We are made whole on that total amount," the staff member said, explaining the two-step calculation and township verification process.

Board members also asked about the project location and parcel boundaries; staff said the development parcels appear near the roundabout and the back side of the Walmart property, and noted townships sometimes consolidate parcels for development. The discussion noted a prior TIF in Pierce Township with a different term structure and that staff may return with a request if negotiations change the proposed make-whole structure.

The resolution was moved and approved by roll call, 5yes. No changes to the districts general fund were reported; the make-whole payment is intended to offset the tax-exempt status of the improved property.

Next steps: staff said the district will continue discussions with township officials and monitor any negotiation about term length or percentage structure if parties seek to reformat previous agreements.