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Developers outline Sycamore Point subdivision; TIF eyed for Clearwater Drive
Summary
At the Feb. 17 meeting developers described the Sycamore Point preliminary plat, proposing two construction phases and a request for tax-increment financing to fund Clearwater Drive; village officials said engineers are working to estimate costs and finance options will be provided at the next meeting.
Mayor Aaron Thomas summarized a preliminary plat for the Sycamore Point subdivision, saying the developer intends to split the project into two phases: a first phase of traditional single-family homes and a second phase with smaller homes and yards.
The developer plans to request a tax-increment financing (TIF) district to pay for the construction of Clearwater Drive. The developer’s engineer is coordinating with the village engineer to finalize construction cost estimates that will determine the size of any TIF required.
Mayor Thomas also reported that the village received a capital budget application from Senator Reynolds but that prior support from Ashville and Harrison Township had weakened; he asked Fiscal Officer Alisha to prepare numbers to show options for funding a local $1.5 million match at the March 16 meeting.
Council discussed a non-financial regional cooperation agreement — a memorandum of understanding with Ashville and Harrison Township to share services such as plowing and mowing if needed. No formal action on the Sycamore Point plat or a TIF district was recorded at the meeting; further cost estimates and financing details will be required before any TIF request or final plat approval.
