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Avon Council hears TIF #3 extension details; public hearing closed with no speakers
Summary
Law Director John Gasior told Council that TIF #3 has met statutory revenue thresholds, making the district eligible for a 30-year extension under Ohio law; a public hearing drew no comments and was closed.
Law Director John Gasior summarized Ordinance No. 62-26, explaining that Tax Increment Financing District No. 3 (established by Ordinance 156-06 in 2006) qualifies for a 30-year extension under Ohio Revised Code Section 5709.51 because properties in the district have reached roughly $1,000,000–$1,500,000 in qualifying incremental revenue. He emphasized the extension would not affect the School District, saying the City will keep schools "whole" while capturing only incremental City revenue.
Council President Brian Fischer opened the required public hearing on the ordinance at the start of the Work Session and closed it after no members of the public came forward. The ordinance is scheduled for its second of three readings on June 8.
