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Committee advances ordinance to extend 20 TIF districts, citing need to fund Findlay Flats and other projects
Summary
Assistant City Manager Billy Weber told the Budget & Finance Committee that proposed 15‑year extensions of 20 tax increment financing (TIF) districts would give the city room to issue debt for current projects, notably the Findlay Flats development; administration said the change in CPS 'pilot payment' to 33% would raise CPS receipts by about $5 million a year.
Assistant City Manager Billy Weber walked the Budget & Finance Committee through a proposed ordinance that would amend about 20 prior TIF ordinances to extend district terms by 15 years under provisions of the Ohio Revised Code. Weber said the extensions would lengthen the life of TIF districts "to give us more room to issue debt associated with those future years" and cited the Findlay Flats project as an example of a current financing need that depends on the extension.
Weber described a parallel agreement with Cincinnati Public Schools (CPS) negotiated over more than a year. He said the parties increased the pilot payment to a 33% share (from an earlier reference point) and estimated that change would result in "over $5,000,000" in additional annual payments to CPS. Weber and the administration said that the extensions were contemplated in earlier amendments and are the final legislative authorization step.
Council members asked whether there are other imminent "choke points" beyond North Over‑the‑Rhine; Weber said he did not have a complete inventory of every TIF district but recommended the full extension as proposed and offered to prepare a report digging deeper into existing TIF districts at the council's request. After discussion, the chair said the committee would put item number 6 on for passage.
The committee did not record a final passage vote on the ordinance in the transcript; the discussion focused on the rationale for the extensions, the funding mechanics tied to CPS payments, and a follow‑up request for more detail on specific TIF districts.
