The Board of Trustees of Miami Township, Clermont County, Ohio met in regular session at the Miami Township Civic Building on December 30, 2005 with the following members present: Mary Makley Wolff, Edwin H. Humphrey and Ken Tracy
MR. HUMPHREY made a motion to adopt the following Resolution:
A RESOLUTION DECLARING TO BE PUBLIC PURPOSE CERTAIN PUBLIC IMPROVEMENTS WHICH ARE NECESSARY FOR THE FURTHER DEVELOPMENT OF CERTAIN PARCELS WITHIN THE TOWNSHIP, AUTHORIZING THE EXECUTION OF A TAX INCENTIVE AGREEMENT AND ESTABLISHING A TAX INCREMENT EQUIVALENT FUND FOR THE DISTRICT KNOWN AS DEERFIELD POINTE (10/75), DISPENSING WITH THE SECOND READING
WHEREAS, Section 5709.73 et seq. of the Ohio Revised Code
authorizes townships to participate in a financing technique commonly
known as tax increment financing; and
WHEREAS, this Board of Trustees (the "Board") wishes to use
the authority granted pursuant to such Sections in connection with
certain improvements in the Township in order to meet the needs of the
area, including new development and traffic capacity; and
WHEREAS, this Board has caused notice to be given to the Milford
Exempted Village School District Board of Education and the Great Oaks
Joint Vocational School District, of this Board's intention to
consider this Resolution for adoption and this Board;
NOW, THERERFORE, BE IT RESOLVED by the Board of Township Trustees of
Miami Township, Clermont County, Ohio by authority of Chapter 504 and
Section 5709.73 et seq. of the Ohio Revised Code, as follows:
SECTION 1. That this Board hereby finds and declares that certain
public improvements in the Township, to wit: the planning, design and
construction of public street improvements including pavements,
walkways, traffic control devices, landscaping and alterations to
existing streets; the planning, design and construction of utilities
including but not limited to water facilities, sanitary sewers, gas
mains, electric facilities, communication facilities, storm water
sewers and retention/detention facilities; the planning, design and
construction of public safety facilities, park and recreation
facilities; the preparation of plans for land use in the area; the
creation or enhancement of buffer areas and open areas necessary for
ensuring the compatibility of adjacent land uses; and, the purchase of
property rights of way and easements or other rights in property
necessary for the completion of the Public Improvements listed above,
are a public purpose and that those Public Improvements are necessary
for the further development of the parcels of land described in
Exhibit "A" attached to this Resolution (such parcels are
hereinafter collectively referred to as the "Incentive District
TIF Site"), which parcels are located in an unincorporated area
of the township, for the provision of adequate public services in
Miami Township. The further development of the parcels in the TIF
Incentive District will place direct additional demand on the Public
Improvements. The Public Improvements will not include Housing
Renovations, as defined in Section 5709.40.
SECTION 2. That, pursuant to Section 5709.73(C) of the Ohio Revised
Code, further improvements to the parcels in the Incentive District
TIF Site occurring after the date of this Resolution are exempt from
real property taxation commencing on the effective date of this
Resolution and ending on the earlier of (1) ten years from the date an
Improvement first appears on the tax duplicate or (2) the date on
which the specific public improvements as described in Section 1 above
(the "Public Improvements") that will benefit the Incentive
District TIF Site are paid in full from the Tax Increment Equivalent
Fund, as defined in Section 4 hereof. It is hereby determined that (i)
a portion of the Improvements shall be exempt from real property
taxation, (ii) such portion shall be seventy-five percent (75%) of the
assessed value of the Improvements, and (iii) the Public Improvements
directly benefit, or once made will directly benefit, the Incentive
District TIF Site.
SECTION 3. That pursuant to Section 5709.74 of the Ohio Revised Code,
the owner or the owners of the Improvements shall be required to make
annual service payments in lieu of taxes (the "Service
Payments") to the Clermont County Treasurer on or before the
final dates for payment of real property taxes. This Board hereby
expresses its intention to enter into such agreements as may be
necessary and appropriate to assure the payment of such Service
Payments.
SECTION 4. That pursuant to Section 5709.75 of the Ohio Revised Code,
there is hereby established the Miami Township Public Improvement Tax
Increment Equivalent Fund (the "Tax Increment Equivalent
Fund"), into which the Service Payments shall be deposited. Money
in the Tax Increment Equivalent Fund shall be used to finance the
Public Improvement and may also be used to make payments to the
Milford Exempted Village School District.
SECTION 5. The Board does hereby dispense with the requirement that
this Resolution be read on two separate days, pursuant to Section
504.10 of the Ohio Revised Code, and authorizes the adoption of this
Resolution upon its first reading.
SECTION 6: That the Clerk is hereby directed to forward a copy of this Resolution to the County Auditor of Clermont County.
SECTION 7: That this Board hereby finds and determines that all formal actions relative to the passage of this Resolution were taken in an open meeting of this Board, and that all deliberations of this Board and of its Committees, if any, which resulted in formal action, were taken in meetings open to the public, in full compliance with applicable legal requirements, including Section 121.22 of the Ohio Revised Code.
SECTION 8: This Resolution shall take effect at the earliest period allowed by law.
First Reading: December 30, 2005
Second Reading: Dispensed with
Effective: January 29, 2006
MR. TRACY seconded the motion to adopt the Resolution. On the roll
call being called the vote resulted as follows:
Mrs. Wolff AYE
Mr. Humphrey AYE
Mr. Tracy AYE
Resolution 2005-60 adopted December 30, 2005.