Data Center

By WILLIAM LANEY, Managing Editor, Wapakoneta Daily News
A trio of tax incentive programs aimed at spurring growth and redevelopment throughout Wapakoneta now needs to be put down in black-and-white, the mayor says.
Wapakoneta Area Economic Development Council Executive Director Greg Myers and Council President Don Jump have worked on a series of tax incentives for the city as part of Mayor Rodney Metz’s ad hoc Tax Incentive Review Committee. The tax incentives include creating a city-wide Community Reinvestment Area (CRA), a Tax Incremental Financing (TIF) District and a facade improvement program.
“I think these really provide some nice incentives to the stakeholders of the community — if you own the property than I consider that a stakeholder — and that is who directly benefits,” Metz said about the programming which may be discussed by Wapakoneta City Council members at tonight’s meeting. “The spin-off benefit goes to the renter of the property because they are living or working in an improved property, and another secondary beneficiary of a business is they are a patron at a nice looking store.”
A CRA permits tax abatements for improvements made to existing commercial, industrial and residential properties as well as new commercial and industrial property investments.
The abatement would only apply to the taxes collected on the value of improved property. The program would not affect property taxes collected at present, it would only abate the possible increased tax amount that could be collected because the property’s assessed value increased.
A TIF district would use any increase in property tax dollars after an improvement be directed into a special fund. Money in the fund could be used for infrastructure or other improvements to the specific area.
Money could accumulate in the fund and be used to pay for improvements as they are made or used to pay debt service for project where money is borrowed to make the improvements.
Jump addressed members of the Wapakoneta City Council’s Finance, Communications and Rules and Lands and Buildings committees last week to recommend that full council give its approval to move forward to have language prepared to define these programs.
“We envision the Ohio Department of Development or a couple of Columbus attorneys, who have the expertise, would actually help us put this language together and would serve as a consultant,” Jump said during last Monday’s joint committee meeting. “At this point in time, we want to know is council interested in moving forward with this idea, and then Greg, I and the mayor would work together on developing legislation to present to council.”
Jump also introduced a possible city program to have city tax dollars help leverage private or public funds to improve downtown building facades. He told committee members he wanted to make them aware of this program and leave the decision with councilors to decide if they wanted to move forward or not.
“I come from the perspective that people need to show me a plan that is workable and then we can talk,” Jump said. “Here we have a downtown partnership that is working to get a Main Street program, that is working in conjunction with the chamber and the WAEDC — they are trying to be more proactive and working to improve the downtown because they see the downtown as an asset.”