Latest news with #TIDs
Yahoo
29-04-2025
- Business
- Yahoo
Marshall Mitchell: Mitchell apartment complex, transmission service seek to utilize taxes for growth
Apr. 28—MITCHELL — These developments in Mitchell just got their first steps approved, but aren't done yet. The Mitchell Planning and Zoning Commission approved recommendations for two Tax Increment Districts (TID) within the city of Mitchell to cover the infrastructure cost of an apartment complex, a transmission service and a city street. A TID makes use of a special tax as provided by governing bodies for financing the installation of a development's infrastructure within a strict boundary over a set period of time. TID No. 41 was approved for recommendation for Paul Groeneweg's Woods Apartments, a proposed 70-unit complex with two- and three-bedroom apartments across 12 buildings. The boundary of TID No. 41 includes the empty lots south of First Avenue between Tiger Street and Mattie Street, as well as all of Mattie Street south of First Avenue and north of East Havens Avenue. TID No. 41 will be a total maximum of $4.3 million in tax financing. The Woods Apartments development is an estimated $9.5 million project, but TID No. 41 only covers the infrastructure cost of the developer at $2.28 million, which is 24% of total costs. Additionally, TID No. 41 is projected to cover the city's construction of Mattie Street, estimated at $2.02 million. Infrastructure that is eligible for reimbursements include running trenching for electricity and gas lines, construction management, landscaping, building permits, utility connections, detention ponds, excavation, adding storm sewers and concrete curb and gutter. The city tacked on Mattie Street to the TID's boundaries with the goal of finishing construction of Mattie Street. The developer will be reimbursed for developing infrastructure for the Woods Apartments before the city considers developing Mattie Street. City Attorney Justin Johnson estimated that it would be three to four years before the city would know how much tax increment is generated within the TID No. 41 boundaries, and then be able to make decisions on how to fund the full development of Mattie Street. "Any reminder would pay for the cost of Mattie Street," Johnson said. In recent years, city-approved TIDs function as a pass-through grant, and the city bears no debt nor issues a bond for the tax district. The apartments will be income-restricted, and rent must be at 80% of median income. A coffeeshop is also included in the plans as well as a detention pond for storm drainage. The TID expires in 20 years or when the $4.3 million has been paid out, whichever comes first. TID-opponent Steve Sibson, of Mitchell, referenced the city's tax increment financing guideline for economic impact and analysis. "I don't see any detailed analysis of why this project is not feasible without the TIF," Sibson said. Both TID district developers were represented by Don Petersen of MorganTheeler law firm. This will be Groeneweg's second TID within Mitchell city limits. In 2022, TID No. 27 was approved for a 22-lot housing development on the north side of Lake Mitchell at Fiala Road. Petersen estimated that the Fiala Road housing development was almost finished. TID No. 42 TID No. 42 was approved for recommendation for Dale's A1 Transmission at 1100 S. Burr St. This will be an expansion of the transmission service building, located south of East Ivy Street between South Burr Street and South Capital Street. The building expansion is estimated at $1.15 million. A TID cannot exceed the tax capability of property values within the tax boundary, so while the eligible costs for reimbursement are at $417,000, only $340,00 can be reimbursed through the life of the TID, according to Johnson. Co-owner Daren Long hopes to begin construction as soon as the council approves the TID and to be done with construction by late fall. The building addition will "Cut the wait times down, and make things flow better," Long said. The Planning and Zoning Commission's recommendations will go before the Mitchell City Council on Monday, May 5 at 6 p.m.
Yahoo
01-03-2025
- Business
- Yahoo
State reps unanimously pass bill to allocate billions for Ohio transportation system
State representatives unanimously passed a state transportation budget on Thursday. [DOWNLOAD: Free WHIO-TV News app for alerts as news breaks] House Bill 54 looks to allocate billions of dollars in funding for Ohio's transportation system development and maintenance for fiscal year 2026-2027. TRENDING STORIES: President Donald Trump to issue posthumous pardon for Pete Rose Wanted man arrested at local grocery store Man convicted of setting father's fiancée on fire, killing her avoids death penalty A spokesperson for State Representative Phil Plummer's (R-Dayton) office said the bill aims to preserve Ohio's infrastructure, promote economic development, and boost public safety. 'This transportation budget will improve Ohio's infrastructure while simultaneously enhancing the safety of our citizens,' Plummer The spokesperson said the bill looks to invest and allocate the following funds to various transportation needs: More than $393 million for new highway construction. $15 million each fiscal year to the Ohio Workforce Mobility Partnership Program. This program supports public workforce transportation and provides funding to various projects. $9 million each fiscal year for Transportation Improvements Districts (TIDs), which promote economic development while creating jobs. $382 million for safety upgrades to roadways throughout Ohio over two years. $4.1 billion for maintenance operations and repairs on Ohio's current highway systems. HB 54 would also create an Ohio Airport Improvement Program Fund and the Division of Advanced Air Mobility (AAM) within the Ohio Department of Transportation (ODOT). The bill touches on election integrity and would prohibit BMVs from offering voter registration to anyone who, according to its own records, is ineligible to register to vote. HB 54 will now go to the Ohio Senate for consideration. [SIGN UP: WHIO-TV Daily Headlines Newsletter]
