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Council to consider CRA amendment lowering service payment to aid sales at The Gables
Summary
Staff proposed amending the CRA agreement with Sims Development for The Gables in Huber Heights to lower the years-11-to-15 minimum service payment from $9,500 to approximately $3,000 (aligned with expected homeowner property taxes), at the developer's request, to improve sales and fairness to homeowners.
Staff presented a requested amendment to the Community Reinvestment Area (CRA) agreement with Sims Development for The Gables. Aaron explained the original agreement required a $9,500 annual minimum service payment in years 11'15, a level that staff and the developer say has hindered sales. "We are requesting an amendment to change those terms," Aaron said, adding staff propose tying the minimum service payment in years 11'15 to the homeowner's expected property-tax liability, which staff estimate would be closer to $3,000 per year.
Council discussed the history of the agreement and agreed the amendment more closely matches the original negotiation intent and would support sales. The item was moved to a second reading on Monday for further council action.
