The Board of Trustees of Miami Township, Clermont County, Ohio met in regular session at the Miami Township Civic Building on December 20, 2005 with the following members present: Mary Makley Wolff and Edwin H. Humphrey.
MR. HUMPHREY made a motion to adopt the following Resolution:
RESOLUTION DECLARING TO BE PUBLIC PURPOSE CERTAIN PUBLIC IMPROVEMENTS WHICH ARE NECESSARY FOR THE FURTHER DEVELOPMENT OF CERTAIN PARCELS WITHIN THE TOWNSHIP AND AUTHORIZING THE EXECUTION OF A TAX INCENTIVE AGREEMENT AND ESTABLISHING A TAX INCREMENT EQUIVALENT FUND FOR THE DISTRICT KNOWN AS THE VILLAS AT TARTAN GLEN TIF, 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, of this Board's
intention to consider this Resolution for adoption not less than
forty-five (45) business days prior to the date hereof, and that this
Board and the Milford Exempted Village School District have agreed to
enter into a Tax Incentive Agreement providing for compensation to the
School District for the property which is exempted under Section
5709.73(C) of the Ohio Revised Code. Milford Exempted Village School
District has by resolution adopted December 15, 2005, approved the tax
increment financing and the exemption of the further improvements for
30 years up to 100% for the property described in Exhibit
"A" attached hereto and waived its right to the forty-five
(45) business days notice prior to the adoption of this Resolution;
NOW, THEREFORE, BE IT RESOLVED by the Board of Township Trustees of
Miami Township, County of Clermont, Ohio by authority of Chapter 504
and Section 5709.73 et seq. of the Ohio Revised Code:
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 Public Improvements will not include Housing
Renovations, as defined in Section 5709.40.
SECTION 2. That, pursuant to Section 5709.73 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) thirty 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 one hundred percent (100%) 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 or to make payments to the Milford Exempted Village
School District pursuant to the Tax Incentive Agreement referred to in
the third Preamble herein and hereby authorized to be entered into by
the Township Administrator or the President of the Board of Township
Trustees.
SECTION 5. That the Clerk is hereby directed to forward a copy of this
Resolution to the County Auditor of Clermont County.
SECTION 6. That 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 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 20, 2005
Second Reading: Dispensed with
Effective: January 19, 2006
MRS. WOLFF seconded the motion to adopt the Resolution. On the roll
call being called the vote resulted as follows:
Mrs. Wolff AYE
Mr. Humphrey AYE
Resolution 2005-53 adopted December 20, 2005.