The Board of Trustees of Miami Township, Clermont County, Ohio met in regular session at the Miami Township Civic Building on December 7, 2004 with the following members present: Edwin H. Humphrey, Joseph W. Uecker and Mary Makley Wolff.
MRS. WOLFF 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, 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 of the Ohio Revised Code. Milford Exempted
Village School District has by resolution adopted October 28, 2004, 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, State of Ohio:
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 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
"Carespring TIF Site"), but excluding any and all residential property
located within Exhibit "A", which parcels are located in an
unincorporated area of the township, and for the creation of jobs, increasing
property values and the provision of adequate public services in Miami Township.
SECTION 2. That, pursuant to Section 5709.73 of the Ohio Revised Code, further
improvements to the parcels in the Carespring 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) December 31,
2034 or (2) the date on which the specific public improvements as described in
Section 1 above (the "Public Improvements") that will benefit the
Carespring 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 Carespring 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 Board of Township Trustees or the President of the Board.
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 7, 2004
Second Reading: Dispensed with
Effective: January 6, 2005
MR. UECKER seconded the motion to adopt the Resolution. On the roll call being called the vote resulted as follows:
Mr. Humphrey AYE
Mr. Uecker AYE
Mrs. Wolff AYE
Resolution 2004-47 adopted December 7, 2004.