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Obetz administrators outline TIF reorganization to fund parkland; public hearing set for April 13
Summary
City staff described a plan to remove certain parcels from the Toy Road TIF and shift them to Molto/Redwood TIF and related exemptions, reallocating future tax increment revenue to pay for a new park and add funds to the Buckstone NCA; staff said no new incentives are proposed and no school district will lose revenue. A public hearing is scheduled for April 13.
City Administrator Rod Davisson and Law Director Gene Hollins outlined a multi-part reorganization of tax-increment financing and community reinvestment boundaries at the March 23 Obetz council meeting, saying the changes will help fund a new park while not creating new developer incentives.
Clerk Stacey Boumis read the title of Ordinance 14-26, which would remove certain real property from the Toy Road Tax Increment Financing (TIF) District and shift those parcels to the Molto/Redwood TIF. Davisson said the Toy Road TIF has "already financed itself" and moving parcels to the new TIF will free revenue that can be used for park development. He said the changes do not affect parcels in Hamilton Township outside the city and that "there are no new incentives."
Davisson and Law Director Gene Hollins explained the revenue timing: an initial abatement covers the first 15 years, with revenues in years 16–30 flowing to the TIF fund; if parcels had remained in the Toy Road TIF those revenues would have serviced bonds for the industrial park. Davisson described the plan as a "well thought-out, long-term plan." The clerk also read titles for Ordinances 15-26 (adding parcels to a TIF exemption under ORC 5709.40(B) and establishing a municipal public improvement tax-equivalent fund) and 16-26 (modifying Toy Road CRA boundaries, removing certain city-owned property, reclassifying multi-family development as commercial and conditioning exemptions on participation in the Buckstone New Community Authority).
Public process and next steps Hamilton Township Trustee Belinda Anderson asked when she could comment; Davisson said the public hearing on the TIF ordinances will be April 13 and that the affected Hamilton Township parcels will become parkland. The ordinances were presented at second reading; no final council votes on these ordinances were recorded at the March 23 meeting.
Why it matters Shifting parcels between TIF districts changes the flow of future incremental tax revenue and how that revenue can be used; Davisson said the intent is to generate funds for a new park rather than to create additional incentives for developers.
