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Council authorizes TIF framework and up to $3 million in bonds for Creekside Woods
Summary
The council approved an ordinance to create the framework for tax increment financing (TIF) for the Creekside Woods project and authorized Series 2026 TIF revenue bonds with a maximum principal of $3,000,000; council also declared the K.E. Rose TIF District to support redevelopment financing.
Huber Heights approved multiple measures on April 27 to support the Creekside Woods development, including an ordinance establishing the framework for tax-increment financing and authorization for Series 2026 TIF revenue bonds with a maximum aggregate principal of $3,000,000 to pay for public improvements.
City Manager John Russell told the council the ordinance sets up the framework for TIF for Creekside Woods and staff recommended waiving the second reading. The council waived the second reading and adopted the ordinance. Separately, council voted to create the K.E. Rose TIF District, which staff said would be used to redevelop the project area and help maximize funds for the work.
