The Granville Village Council has scheduled a public hearing to request public comment for October 2, 2013 at 7:30pm in the Granville Village Council Chambers, 141 East Broadway, for the following:
Ordinance No. 20-2013, An Ordinance Declaring Improvements to Certain Real Property to be a Public Purpose and Exempt From Real Property Taxes; Specifying the Public Infrastructure Improvements That, Once Made, Will Directly Benefit That Property; Requiring the Owners of That Property to Make Service Payments in Lieu of Taxes; Establishing a Municipal Public Improvement Tax Increment Equivalent Fund; Approving and Authorizing the Execution of a Tax Increment Financing Agreement and a Compensation Agreement; Creating a Tax Incentive Review Council; Establishing Non-Discriminatory Hiring Policies; and Providing Related Authorizations Pursuant to Ohio Revised Code Sections 5709.40(b), 5709.42, 5709.43 and 5709.85
This Ordinance would establish a Tax Increment Funding district for the newly annexed property at the northeast corner of Columbus Road and Weaver Drive. The Village would be authorized to sign an agreement with Raccoon Creek, LLC (property owner) for payment in lieu of taxes. Funds from a TIF would be used for public infrastructure improvements in that area only for the next thirty years. The Granville Township Fire Department, Granville Exempted Village School District and the Career and Technology Education Center would receive full tax funding.
This legislation is available for review at the Village Offices during regular business hours, which are normally 8:00am - 4:30pm, Monday through Friday. The Village Offices are located at 141 East Broadway.