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Board gets detailed TIF update as Sherwin‑Williams and Valor Acres projects move forward
Summary
BakerTilly presented a multi‑page Tax Incentives Report showing major increment values for Sherwin‑Williams and mixed‑use developments, and projected school compensation payments of roughly $357,083 for CY2025; district staff said they will continue to track payments and build‑out timing with city and developers.
The Board of Education on July 16 received a multi‑page Tax Incentives Report from BakerTilly municipal advisors outlining tax increment financing (TIF) values and projected revenue for collection year 2025. Presenters Marvin Founds and Jeremy Buskirk highlighted commercial increments at the Sherwin‑Williams research and development site and mixed‑use phases for the DiGeronimo/Valor Acres developments.
The packet included detailed millage breakdowns, project‑level increment values and a table estimating CY2025 school compensation payments of $357,083 across Brecksville and Broadview Heights TIF areas. BakerTilly described build‑out assumptions (including use of about 80% of developer‑provided values for conservatism) and urged continued dialogue with cities and developers to confirm timing and payment calculations.
District officials noted the Sherwin‑Williams facility is expected to contribute significant taxable value into CY2026 and that phased construction assumptions were used to spread expected increment onto the rolls over several years. Board materials stated the district will monitor receipts, review development completion milestones, and update growth estimates annually.
BakerTilly’s slides and supporting tables — distributed with the board packet — show detailed projections for several projects (Sherwin‑Williams, DiGeronimo HQ, CIC/Valor Acres phases and Crowland residential), including anticipated TIF start/end years and estimated school shares. The board did not take an immediate fiscal action on the material but asked staff to continue tracking and report back as payments are received.
