A tax-increment-financing (TIF) agreement for a senior rental complex in Powell “should lead to millions of dollars in infrastructure improvements,” CantonRep.com reports. Powell City Council unanimously approved the agreement with Powell Grand developers Schottenstein Real Estate Group and Margello Development Co. for the 308-unit project (for more on this, see our December 21, 2015 blog post). About $3.3 million in property tax revenue from improvements made to the site will be diverted to “improvements to Sawmill Parkway and the planned Park at Seldom Seen.” The agreement will “not divert any property-tax revenue owed to the Delaware Area Career Center, the Olentangy Local School District or the Liberty Township Fire Department.” For more, read the full article.
Powell Grand agreement will generate $3.3 million for park and road improvements
