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Planning committee reviews 30‑year TIF for Akron’s Finest Mulch; finance staff details TIF distributions
Summary
Council planning and finance staff described a proposed 30‑year tax increment financing agreement for Akron's Finest Mulch on Maslin Road, projecting about $60,000 in captured value over 30 years and noting current TIF distributions and fund accounting.
The Planning, Community & Economic Development Committee considered an ordinance (2026‑0 7) proposing a 30‑year tax increment financing (TIF) agreement for Palasa Properties LLC doing business as Akron's Finest Mulch on Maslin Road.
Miss Russell (staff) said the project involves twin 2,795‑square‑foot buildings and an anticipated private investment of about $550,000 at the site; under current assumptions and absent valuation changes, the city expects roughly $60,000 in captured value over the 30‑year term. Planning staff said the buildings will serve regional customers in the Green, Jackson Township area.
Finance Director Goodrich explained how the city accounts for TIFs: revenues are tracked in a dedicated fund (fund 403) with separate subaccounts by district (Massillon, Arlington, Town Park, Southwood, Heritage). Goodrich noted recent net collections and distributions: net county collections reported for tax year 2025 (paid in 2026) were $2,448,970, and the city paid about $970,795 to schools as part of the TIF distributions. He also said Massillon Road district collections this cycle were $592,675.
Committee members asked whether the city committed to infrastructure (sidewalks, curbing) for the project; staff said no direct commitments were made, though the developer granted an easement for a potential future trail along the southern border. The ordinance was on 2nd reading and planning staff said they would request time on the council docket for final consideration.
