|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.