Common Contracts
1 similar Tax Increment Financing Agreement contracts
TAX INCREMENT FINANCING AGREEMENTTax Increment Financing Agreement • March 5th, 2024 • Ohio
WHEREAS, the City intends to (i) declare, pursuant to Ohio Revised Code Section 5709.40(B) (the “TIF Act”), 75% of the improvement of certain parcels of real property located within the City as identified in Exhibit A attached hereto (each individually, as now or hereafter configured, a “Parcel” and collectively the “Parcels”) for a period of 10 years to be a public purpose and exempt from taxation, (ii) require the owner of each Parcel to make service payments in lieu of taxes (collectively for all Parcels, the “Service Payments”) to the Hamilton County Treasurer, and (iii) provide in the legislation authorizing the foregoing exemption (the “TIF Ordinance”) for the distribution of the required portion of the Service Payments to the Boards of Education of the Princeton City School District and the Great Oaks Institute of Technology and Career Development as required under the TIF Act for an exemption of the duration and magnitude referenced above without consent of the applicable schoo
