District News

Developer seeks TIF from Board

Posted on: May 1, 2016

The developer of a new senior living apartment complex in Hamilton Township asked the Little Miami Board of Education for financial support of the project at its April board meeting.

Bruce Rippe, the developer of $25 million Hopkins Commons project, made a presentation to the board seeking tax incremental financing (TIF) for the project.

The project, which will consist of 160 apartment units in a three-story, three building complex, will cater to senior citizens and will be located behind the Maineville post office, the Hamilton Township building and adjacent to Regency Park off of Ohio 48. The project is expected to receive more than $9 million in state assistance and Warren County Community Services is investing $2 million in the restaurant, banquet center and senior center that will be part of the project.

A TIF is available to local governments in Ohio to finance public infrastructure improvements. TIFs are implemented at the local level and may be created by a township, municipality or county. When a piece of land is developed and a TIF is legislated, governmental agencies agree to forego the collection of increased property taxes that may come from the project over a set period of time. Those dollars are directed towards a separate fund to finance the construction of public infrastructure defined within the TIF.

As the public school district within the Hamilton Township TIF area, Little Miami has a 25 percent stake in those tax dollars. If the TIF is in place for longer than 10 years, developers must get the approval of the school district. If the TIF is for less than 10 years, the district does not have to be consulted.

At Monday’s board meeting, Rippe asked the Board to waive their 25 percent of the increase in property taxes in order to use those funds to pay for sidewalks and street lighting along Ohio 48. Although it was not stated during the meeting, Rippe left information for the board that reflected 10-year and 30-year TIF options. The Board said they appreciated Rippe’s presentation and said they would take the information under advisement.

In other business, the Board:

  • Heard a curriculum update from Regina Morgan, including a proposal to use Schoology as a learning management system for the 2016-2017 school year. This system would provide an online resource for teachers, students and parents and would cost approximately $7 per student per year. The Board took no action.
  • Approved an updated 2016-2017 academic calendar. The Board approved changing May 2, 2017 from a student attendance day to a professional development day for teachers. No school for students that day.