City Manager Claims: Future School Levy Would Not in Any Manner be Impacted by City's TIF
by David Miller
LOVELAND, OHIO - On July 8 Loveland City Manager, Tom Carroll produced a new document titled "Reserves of Loveland School District TIF Analysis Review". The document is a review of the spread sheets, Loveland resident and School Board Treasurer, Brett Griffith has presented to the City. Griffith's spreadsheets outline the impact of the City's proposal to create a Tax Increment Finance District to capture future school taxes to complete the streets, sidewalks and other infrastructure at the Reserves of Loveland subdivision when the City takes over the developer's responsibilities.
Robert Krohngold and Mark Bradley Zaring of Mark Bradley Homes have abandoned the uncompleted subdivision they started in 2005. Fifth Third Bank loaned Krohngold and Zaring the money they needed to begin construction. Fifth Third Bank has taken title to the remaining building lots, but not the land under the streets and right of way. Under an agreement between the City and Fifth Third Bank, the City has agreed to hold Fifth Third harmless for the remaining work. The agreement also allows the City to use a $75,000 "Donation" from Fifth Third to build a new shelter in the City's Nisbet Park and erect a plaque honoring the Bank. If the $75,000 is used for the park shelter instead of at the Reserves of Loveland, the liability to school taxpayers will increase.
In May of 2005 The Business Courier said Krohngold and Zaring sold 43 homes in 2004 throughout the region at an average price of roughly $600,000. “Its annual sales of $29 million represented an 81 percent increase over 2003,” according to Courier research.
In the report Carroll said, "To my knowledge, the School District has not yet announced when they intend to go out for a levy again, though it should be clear that whenever they next go for a levy [sic] will not in any manner be impacted by this TIF."
Carroll also said that his staff has made an hour-by-hour calculation of the moneys and concluded, "Thus, the notion that the creation of this TIF will cause pain and suffering to the schools, students, parents and teachers is, in staff's opinion, grossly overstated."
Read Tom Carroll TIF Analisis 7:8:10
Read Tom Carroll Supporting Docs 7:8:10
For a more reader friendly version of Griffith's Spreadsheets:
Download TIF SPREADSHEET 6-22-10 - A
Download TIF SPREADSHEET 6-22-10 - B-1
Download TIF SPREADSHEET 6-22-10 - C-1
There will be a public hearing at the next City Council meeting on Tuesday, July 13 about the proposed TIF. The Council meeting begins at 8 PM at City Hall (120 West Loveland Ave.).
The Public Hearing will be at 8:30 PM.
School Board representatives are expected to attend the Public Hearing and testify about the proposal.
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