Commissioners Strike $7M TIF Deal with Middlefield
Geauga County Commissioners on June 2 approved an agreement with Middlefield Village to distribute about $7 million in tax increment financing revenue from the 208-home Heritage Pointe planned unit development in the village.
Geauga County Commissioners on June 2 approved an agreement with Middlefield Village to distribute about $7 million in tax increment financing revenue from the 208-home Heritage Pointe planned unit development in the village. Last month, village council passed a proposal outlining the county’s distribution of TIF revenue under the Ohio Revised Code to entities that rely on levy income, including schools, law enforcement, fire protection and social services. Under the ORC, the county is entitled to 25% of 25% of the property’s increased valuation, Middlefield Village Mayor Ben Garlich said during a July 8 phone interview. A TIF is an...
