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School board approves Jefferson Neighborhood TIF, projects ~$6.9–7M over 30 years for district
Summary
The board adopted a resolution approving economic incentives for the Jefferson Neighborhood 'Build Back the Block' housing project, establishing a 30-year TIF under which the district will receive an estimated 75% of make‑whole payments, conservatively projected to yield roughly $6.9–7.0 million over three decades.
The Hamilton City School District board voted Wednesday to adopt a resolution supporting economic incentives for the Jefferson Neighborhood redevelopment, a multi‑phase housing project the city calls part of its 'Build Back the Block' initiative.
Jeremy Frasier, who presented the legislation, described the deal as a 30‑year tax-increment financing (TIF) agreement that removes debt payments from the project and routes make‑whole payments to local taxing entities. "Because of that, the school district will receive 75% of make‑whole payments generated from the project," Frasier said, adding conservative district projections of roughly $6.9 million to $7.0 million over 30 years.
Board members moved to adopt the resolution; a roll‑call vote recorded unanimous 'yes' answers from Dr. Joe Copus, Dr. Ashley Hopkins, Miss Manuso and Mr. Dave Davidson. The motion carried and the board approved the agreement as presented.
Frasier told the board the project is phased in five steps as homes are constructed on vacant lots in the Jefferson neighborhood, converting parcels that currently produce little or no property tax revenue. He described the arrangement as a win for the city, neighborhood and district that is intended to spur housing production while providing long‑term revenue to the school district.
The board’s approval concludes the district’s formal assent to the TIF; additional administrative steps will follow between the city and developers to implement each construction phase and the tax‑year accounting that triggers make‑whole payments.
