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Sheffield board approves TIF Cernovich redevelopment agreement
Summary
The Village of Sheffield board adopted Ordinance 2025-02-11-01 approving a TIF Cernovich Redevelopment Agreement that reimburses half of incremental property taxes based on increased assessment; the motion passed with one abstention.
The Village of Sheffield board on Feb. 11 approved Ordinance 2025-02-11-01, the TIF Cernovich Redevelopment Agreement, which reimburses one-half of the increased property taxes attributed to higher assessments back to the applicant each year.
Trustee Adams moved to approve the ordinance and Trustee Price seconded. The roll call vote recorded Ayes from Adams, Corwin, Price, Yepsen and President Mary Lanham; Trustee Pratt abstained. The motion carried (5 ayes, 1 abstention). The agreement is the same type the village has used with prior applicants, according to the motion language recorded in the meeting packet.
The board did not discuss specific dollar amounts for this agreement during the meeting. The ordinance was presented as a standard TIF redevelopment contract; no further public comment was recorded on the item.
