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Council approves TIF districts tied to Miller Farms, caps infrastructure reimbursement at $6.5 million
Summary
Canal Winchester council adopted a resolution creating three tax increment financing districts for the Miller Farms development, a 30-year incentive district that will convert property taxes into service payments and cap eligible infrastructure reimbursement at $6,500,000; the county filed objections and will be reimbursed beginning in year 11.
Canal Winchester’s council approved a resolution establishing three tax-increment financing (TIF) districts to support the Miller Farms development, creating a 30-year incentive TIF that restructures taxes for participating parcels into service payments.
Development Director Lucas Hare told council the structure is an incentive-district TIF that can include single-family properties and would operate at 100% of the property taxes for the designated period. "This is a 30 year, TIF or 100% of the property taxes," Hare said during the presentation. He added that the maximum amount of public-infrastructure improvements eligible for reimbursement is "capped at…
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