Middletown Forum : Middletown, school district near deal

Middletown, school district near deal : It won't be long before the...

Thu, 19 Nov 2015 09:00:40 +0000

Author: Cooper
Subject: 6225
Posted: Nov 19 2015 at 9:00am

It won't be long before the property tax reduction is also given to certain residential neighborhoods such as Main Street Historic area, The Highlands, The Oaks. The Renaissance, and others. Niche businesses presently located at The Mall (Towne) are moving downtown, as that is to become an Enterprise Zone, Community Reinvestment area, or a tax Increment district. Tighten up Main Street by the use of tax abatements. Fill Fenwick by naming east end an Enterprise Zone. Bring a new Kentucky developer to east end by telling them their apartment taxes will be reduced. Same with the new businesses springing up downtown, which were told a year ago, tax abatements were on their way. Mr. Grau now has the Manchester in a Community Revitalization Area, which both Renaissance and Manchester projects for renters will extend to no income taxes as well.

Middletown, school district near deal : As more and more residents plot...

Thu, 19 Nov 2015 08:31:27 +0000

Author: acclaro
Subject: 6225
Posted: Nov 19 2015 at 8:31am

As more and more residents plot to move out of Middletown, it is clear it is the resident taking the brunt of the tax abatements, and significant pipeline of non-profits in Middletown. As the city fills the void associated with reduction in taxes, which are to be compensated to the city, although unlikely many businesses will move to Middletown associated with a reduction in paying property taxes since so many are already, non-profits, with the city already expressing financial woes which prohibit expenditures, where do you think the money is going to come from to have a fund set aside to make up the short-fall for the school district from its tax collection? Residents that will be paying a much higher income tax, so businesses get the reduction. That doesn't help the resident, and it doesn't attract new residents. Single residents will absorb the tax gap, given to businesses, by the income tax. The state won't make up the difference and assuredly, not the fed government GRANT program. So long, farewell, to you, and you, and you.

Middletown, school district near deal : Whether the people's money...

Thu, 19 Nov 2015 06:11:07 +0000

Author: VietVet
Subject: 6225
Posted: Nov 19 2015 at 6:11am

Whether the people's money goes to the city or the school district, it's still the taxpayer's money being spent somewhere. Just an internal vortex of money movement.

None of this will work nor matter if there is no enticement for businesses to locate to the city. Why is this thinking just now hitting the table? Should have been ongoing for decades. You just don't start and stop on economic development. It is a continuous effort.

Let's see the success rate in the near future before we get all giddy with delight about things. Your enthusiasm may a be premature and without merit. Let's face it, the city's track record on drawing new business to town the last three decades hasn't exactly been stellar now has it.

"Alexis Fitzsimmons, assistant economic development director for the city of Middletown, said the agreement will create and support new growth going into the future."

"“This is a tremendous opportunity for both of us,” she said. “This could really move the community forward.”"

Shoulda, woulda, coulda......but no real confidence factor here. Positive speculation is good but real results are even better Fitzsimmons. Show us some results for a change. Otherwise this idea falls in the same category as the often attempted, over spent, over speculated efforts to get the downtown started. Speculation about what it may do when, in reality, it has done nothing seems to be all we have gotten so far.

Middletown, school district near deal : Posted: 5:21 p.m. Wednesday,...

Wed, 18 Nov 2015 18:31:00 +0000

Author: Vivian Moon
Subject: 6225
Posted: Nov 18 2015 at 6:31pm

Posted: 5:21 p.m.Wednesday, Nov. 18, 2015

Middletown, school district near deal

By Rick McCrabb

Staff Writer

MIDDLETOWN —

Thecity and school district are in the final stages of finalizing an agreementthat they say will promote economic growth while enhancing the city’s tax base.

Theduo has drafted a Cooperative Compensation Agreement, which provides the citywith the authority to set up special financing areas for businesses relocatingto Middletown.As part of the agreement, the city will reimburse a portion of the propertytaxes forfeited to the school district.

MarciaAndrew, school board president, said the city is “eager” to get the agreementsigned so she expects the revised document to be presented at the next boardmeeting, Nov. 30.

Ifit’s approved, the deal would be presented to City Council members on Dec. 1.No terms of the agreement are being released, officials said.

AlexisFitzsimmons, assistant economic development director for the city of Middletown, said theagreement will create and support new growth going into the future.

“Thisis a tremendous opportunity for both of us,” she said. “This could really movethe community forward.”

Shesaid the agreement provides the city with the authority to negotiate andexecute Enterprise Zone Agreements, Community Reinvestment Areas, and TaxIncrement Financing Districts within and up to a pre-approved threshold. Aspart of the agreement, the city will reimburse a portion of the amount of theproperty taxes forfeited, she said.

Thecompetitive nature of retaining and recruiting jobs frequently requires the useof economic development incentives, including Enterprise Zone Agreements,Community Reinvestment Areas, and Tax Increment Financing; each type ofincentive offers short-term benefits to prospective companies which end after afinite number of years, she said.

Inaddition to financial incentives, “speed to market” has become one of the mostimportant factors in winning consideration from a site selector, she said. Middletown competes with other communities in Ohio, nationally, andinternationally for these job retention and creation projects, she said, andhaving a pre-approved, clear agreement with the district is essential to movingat the speed of business.

MiddletownCity Schools Treasurer Randy Bertram said the board is excited and willing towork with the city to finalize the plan.

ButAndrew said it’s important to be fair to the school district and the taxpayers.

“Wedidn’t want to give away the shop,” she said.

Andrewsaid the original draft called for a 10-year agreement, but the board is askingfor a four-year deal. That way, she said, the deal won’t tie the hands offuture board members and can be reviewed and possibly renewed after everyfull-term election of board members.