File #: 2019-14    Version: 1 Name:
Type: Ordinance Status: Adopted
File created: 6/6/2019 In control: Planning and Economic Development Committee
On agenda: 7/9/2019 Final action: 7/9/2019
Title: AN ORDINANCE DECLARING A PORTION OF IMPROVEMENTS TO A CERTAIN PARCEL OF REAL PROPERTY OWNED BY FREDDY'S AKRON OHIO LLC TO BE A PUBLIC PURPOSE, EXEMPTING ONE HUNDRED PERCENT (100%) OF THE VALUE OF THE IMPROVEMENTS FROM REAL PROPERTY TAXATION; REQUIRING THE OWNERS OF THOSE PARCELS TO MAKE SERVICE PAYMENTS IN LIEU OF TAXES EQUAL TO THE REAL PROPERTY TAX; THE DEPOSITING OF THOSE SERVICE PAYMENTS IN THE APPROPRIATE FUND; AND PROVIDING FOR THE PAYMENT OF A PORTION OF SAID SERVICE PAYMENTS TO THE GREEN LOCAL SCHOOL DISTRICT FOR THIRTY YEARS, AND DECLARING AN EMERGENCY. (Introduced 6/11/19)
Sponsors: Gerard Neugebauer
Attachments: 1. 2019-14 Freddy's TIF, 2. 2019-14 re Freddys Custard TIF, 3. 2019-14 re Exhibits Freddy's

Title

AN ORDINANCE DECLARING A PORTION OF IMPROVEMENTS TO A CERTAIN PARCEL OF REAL PROPERTY OWNED BY Freddy’s Akron Ohio LLC TO BE A PUBLIC PURPOSE, EXEMPTING ONE HUNDRED PERCENT (100%) OF THE VALUE OF THE IMPROVEMENTS FROM REAL PROPERTY TAXATION; requiring the owners of those parcels to make service payments in lieu of taxes equal to the real property tax; the depositing of those service payments in the appropriate fund; and providing for the payment of a portion of said service payments to the Green Local School District FOR THIRTY YEARS, AND DECLARING AN EMERGENCY.  (Introduced 6/11/19)