The Miami Township Board of Trustees met in a Special Session on Sunday, November 10, 2002 at 11:00 AM. The purpose of the meeting was to discuss the proposed TIF with Kohl's. Chairperson Joseph W. Uecker called the meeting to order. Clerk, Eric C. Ferry called the roll. Attending were Joseph W. Uecker, Mary Makley Wolff and Edwin H. Humphrey.
Mr. Humphrey recommended the Board continue to do parallel activity on the 30 year 100% TIF and the 10 year 75% TIF with anticipated final adoption on November 26, 2002 or at the earliest possible date. He recommended the Township actively work with Kohl's now to secure the dirt for the service road project. Mr. Humphrey recommended the Board use General Fund money if needed to secure the dirt at the lowest cost. Financial consultant Andy Brossard stated the general fund could be reimbursed by the TIF once funds are generated. Mr. Humphrey recommended that if the Township fails the timing for the 30 year 100% TIF, that they pass the 10 year 75% TIF on November 26, 2002.
The Board discussed changes to be made to the 30 year 100% Kohl's TIF plan. Changes included changing the payment to the Milford Exempted Village Schools to 35% of the annual Service Payment collected from the TIF, a reduction in the size of the TIF area, the Milford Exempted Village Schools waive, by resolution on November 14th, the right to a 45 day notice for the Kohl's TIF, and other changes.
The Board agreed to follow the plan as outlined.
With no other business to come before the Board, Chairperson Uecker adjourned the meeting at 12:35 PM.
ATTEST: __________________________________________________________ Eric C. Ferry, Clerk
__________________________________________________________ Joseph W. Uecker, Chairperson