Explanation
BACKGROUND: Pursuant to Ohio Revised Code (“R.C.”) Section 5709.40 to 5709.43 (the “TIF Statutes”) and as authorized by Ordinance 2895-2014, Council removed parcel from the existing non-school Easton TIF and established the non-school New Easton TIF, required those property owners to make service payments, and required those service payments be deposited into the existing Easton Project Municipal Public Improvement Tax Equivalent Fund (the “Easton TIF Fund”). Pursuant to the TIF Statutes and as authorized by Ordinance 3120-2016, Council established the non-school Brice Road TIF, required those property owners to make service payments, and established the Brice Road Public Improvement Tax Equivalent Fund (the “Brice Road TIF Fund”) for the deposit of those service payments. R.C. Section 5709.42 requires the service payments to be collected in the same manner as real property taxes and to distribute those service payments to the applicable municipal corporation and school districts. However, unlike for city, local, or exempted village school districts, R.C. Section 5709.42 does not specify if the county treasurer or the municipal corporation is responsible for the distribution of the service payments to a public joint vocational school district (a “JVS”). The county treasurer distributed JVS service payments to the City unbeknownst to it. This legislation appropriates and authorizes the expenditure of service payments from the Easton TIF Fund and Brice Road TIF Fund to the Eastland-Fairfield Career & Technical Schools (“Eastland”), and authorizes the Director of Development to enter into a school compensation agreement with Eastland in order to come to terms on the remittance of JVS service payments to Eastland that were first distributed by the county treasurer to the City for deposit into the Easton TIF Fund and Brice Road TIF Fund.
EMERGENCY JUSTIFICATION: Emergency action is requested in order to minimize the fiscal impact and to expedite payment t...
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