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Lorain County to notify townships and schools of proposed Sandstone Commercial TIF in Amherst Township
Summary
The board authorized sending notice under Ohio law of a proposed Tax Increment Financing (TIF) district for Sandstone Commercial Parcels in Amherst Township; the TIF would become effective 45 days after notice and is intended to help fund road infrastructure and capture commercial tax revenue while making schools whole, officials said.
Lorain County commissioners on Feb. 27 voted to issue notification under Ohio Revised Code Section 5709.78 of a proposed Tax Increment Financing (TIF) for Sandstone Commercial Parcels in Amherst Township. Rob Duncan of the county’s community development office said the notice will go to the affected township trustees and school boards and that formal creation cannot occur until 45 days after notice is received.
Duncan said the Sandstone Commercial parcels are approximately 40 acres within the Sandstone development, that the state required construction of Sandstone Parkway (referred to in the discussion as Spline Road) for the project and that the TIF would allow revenues to pay for the roadway. He also said the board’s process intends to make the local school districts “whole” because the parcels are commercial and not expected to add students. The board adopted Resolution No. 26-139 authorizing the notice.
