Council approves TIF project
Thursday, June 22, 2006
By SEAN CASEY
ThisWeek Staff Writer
Over reservations on the part of Violet Township, Pickerington has ratified a tax-incentive package for a $20-million commercial development.
Tuesday night, Pickerington City Council approved the creation of a Tax Increment Financing district on a 17.7-acre parcel just south of the Kohl's department store on state Route 256. Through the TIF, the city will freeze property taxes on the land at current levels for the next 30 years and use any future increases in property taxes to pay for street improvements necessary to support the development, which is slated to include around 100,000 square feet of office and retail space.
Pickerington schools will receive all money owed to it as property values in the TIF area increase, regardless of the agreement.
According to Councilwoman Cristie Hammond, the TIF dollars would refund developer Equity Inc. for the construction of a quarter-mile extension of Stone Creek Drive west of Route 256 that it has committed to build up front.
The city hopes to eventually develop the extension into an arterial from Route 256 to Refugee Road near the Pickerington Police station, which would ease traffic congestion along the city's commercial corridor.
Despite the upside the project holds for the city, Violet Township Trustee Harry Myers told city council those benefits come at a loss to the entire area.
Since 1998, the city's five existing TIF agreements have redirected $271,951 in taxes away from the township, $244,755 of which would have gone to the Violet Township Fire Department, Myers said.
''I think it's an exceptional thing you did for the school district (in attracting the Equity project), but there is a cost to the fire department,'' he said. ''This is our fire department, which includes you.''
Council President Brian Wisniewski countered by claiming two of the five TIFs passed during previous city administrations have not resulted in development, and thus not contributed to any increase in fire department runs.
Also, he said the township affected city safety services earlier this year when it contracted with a regional dispatching center, pulling out of the Pickerington Police system at a loss of about $80,000.
Furthermore, the office and retail spaces planned for this TIF project generally generate few fire department runs, he said.
Thursday, June 22, 2006
By SEAN CASEY
ThisWeek Staff Writer
Over reservations on the part of Violet Township, Pickerington has ratified a tax-incentive package for a $20-million commercial development.
Tuesday night, Pickerington City Council approved the creation of a Tax Increment Financing district on a 17.7-acre parcel just south of the Kohl's department store on state Route 256. Through the TIF, the city will freeze property taxes on the land at current levels for the next 30 years and use any future increases in property taxes to pay for street improvements necessary to support the development, which is slated to include around 100,000 square feet of office and retail space.
Pickerington schools will receive all money owed to it as property values in the TIF area increase, regardless of the agreement.
According to Councilwoman Cristie Hammond, the TIF dollars would refund developer Equity Inc. for the construction of a quarter-mile extension of Stone Creek Drive west of Route 256 that it has committed to build up front.
The city hopes to eventually develop the extension into an arterial from Route 256 to Refugee Road near the Pickerington Police station, which would ease traffic congestion along the city's commercial corridor.
Despite the upside the project holds for the city, Violet Township Trustee Harry Myers told city council those benefits come at a loss to the entire area.
Since 1998, the city's five existing TIF agreements have redirected $271,951 in taxes away from the township, $244,755 of which would have gone to the Violet Township Fire Department, Myers said.
''I think it's an exceptional thing you did for the school district (in attracting the Equity project), but there is a cost to the fire department,'' he said. ''This is our fire department, which includes you.''
Council President Brian Wisniewski countered by claiming two of the five TIFs passed during previous city administrations have not resulted in development, and thus not contributed to any increase in fire department runs.
Also, he said the township affected city safety services earlier this year when it contracted with a regional dispatching center, pulling out of the Pickerington Police system at a loss of about $80,000.
Furthermore, the office and retail spaces planned for this TIF project generally generate few fire department runs, he said.
