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Brook Park council adopts ordinance to accept stadium-area parcels, enabling expanded TIF options
Summary
In a special meeting Nov. 12, Brook Park council adopted Ordinance 11508-2025 to accept parcels conveyed by HSGBP Development LLC and immediately reconvey them, a move the mayor said enables the city to access a 41 TIF option and build funds for long-term stadium maintenance.
Brook Park's council adopted Ordinance 11508-2025 at a special meeting on Wednesday, Nov. 12, approving acceptance and reconveyance of parcels from HSGBP Development LLC and authorizing a related transfer and indemnification agreement.
Mayor Ed Orcutt described the measure as a "housekeeping" action to put the city in the chain of custody for the parcels so the city can pursue different tax increment financing (TIF) options. "This allows us to do a 41 TIF," Orcutt said, explaining the distinction he and staff presented between a 40-B TIF, which generally funds…
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