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Galena council holds first readings on TIF exemption repeal and incentive districts tied to M/I Homes
Summary
At the Jan. 6 meeting Mayor Jeff Kinnell read two ordinances (2025-01 and 2025-02): one proposing termination of a prior TIF exemption under Ohio Rev. Code §5709.40 and another establishing ten incentive districts and authorizing a TIF agreement with M/I Homes of Central Ohio, LLC; both were introduced at first reading with no votes taken.
Mayor Jeff Kinnell read two ordinances at first reading during the Jan. 6 council meeting that would affect local tax-increment financing arrangements.
Ordinance No. 2025-01, read by the mayor, would terminate a previously authorized tax increment financing exemption and declare certain parcels "nonperforming parcels" pursuant to Ohio Revised Code Section 5709.40. The minutes record the ordinance text as read but show this as a first reading; no vote or action was taken at this meeting.
Ordinance No. 2025-02, also read at first reading, would establish ten incentive districts, identify public infrastructure improvements benefitting parcels within those districts, require owners to make service payments in lieu of taxes, establish a municipal public improvement tax increment equivalent fund, and authorize execution of a TIF agreement with M/I Homes of Central Ohio, LLC. The minutes present the ordinance language at first reading; no final action, vote or detailed fiscal analysis is recorded in the minutes.
Because both items were presented as first readings the council did not adopt or reject either ordinance at this session; further readings or council action would be required to change TIF status or to authorize agreements.
