Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Infrastructure Financing topic
No spam. Unsubscribe anytime.
Council approves TIF pledge and bond support for Winterbrook Place infrastructure
Summary
Council approved Ordinance 25‑50 to authorize a cooperative payment agreement with the Delaware County Finance Authority and Mi Homes of Central Ohio, pledging TIF revenues to support bond issuance that will reimburse developer work for the Winterbrook Place subdivision.
Council members voted to approve Ordinance 25‑50 on Sept. 22, authorizing a cooperative and payment agreement between the City, the Delaware County Finance Authority and Mi Homes of Central Ohio to support Winterbrook Place public infrastructure.
Langford, presenting the item, said the agreement will “authorize and pledge the TIF payments to the DCFA so they can issue a bond to reimburse this developer for the improvements they've made and built for this 263 single family home project.” No members of the public spoke during the hearing and planning staff recommended approval as consistent with the TIF district established under Ordinance 21‑46.
Council waived further readings and approved the ordinance by roll call. The measure lets the county finance authority issue bonds backed by pledged tax‑increment revenues so the developer can be reimbursed for constructed roundabout and road connections. Council did not add additional conditions to the agreement; implementation will follow the terms of the cooperative payment contract and the DCFA bond issuance process.
The approval is administrative in nature and does not itself change zoning or land‑use entitlements; it formalizes a payment mechanism to reimburse the developer for public infrastructure that staff said is complete or near completion.
