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AI-7297 Topics of Discussion     H.       
  
Meeting Date: 11/19/2020  
Montgomery County TIF District Extension
Submitted By: Bryan Chodkowski
Department: Economic Development  
Council Committee Review?: Council Work Session
Date(s) of Committee Review: 11/19/2020
Audio-Visual Needs: None
Emergency Legislation?: Yes
Motion/Ordinance/
Resolution No.:

Agenda Item Description or Legislation Title
Montgomery County TIF District Extension
Purpose and Background
On April 28, 2003, City Council adopted Ordinance No. 2003-O-1409 which created the Montgomery County TIF District.  Under provisions of the Ohio Revised Code, the City Council may extend the provisions of the TIF District for an additional 30-year period.  In order for the extension to be effective, the City Council must adopt an amendment to Ordinance No. 2003-O-1409 prior to December 31, 2020.

City Staff recommends the City Council adopt the proposed amendment to Ordinance No. 2003-O-1409 with a first reading scheduled for the November 23, 2020 City Council Meeting and the second reading scheduled for the December 14, 2020 City Council Meeting.  This legislation will need to be adopted as an emergency measure relative to removing the 30-day referendum period normally associated with adopting an ordinance. 

The Montgomery County TIF currently generates more than $1.5 million annually.

Fiscal Impact
Source of Funds: N/A
Cost: N/A
Recurring Cost? (Yes/No): N/A
Funds Available in Current Budget? (Yes/No): N/A
Financial Implications:
Attachments
Notice - Huber Heights Schools
Notice - MVCTC
Ordinance
Exhibit A


    

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