DOVER (WJER) (June 23, 2023) – The city is taking another step toward welcoming a new housing subdivision on the north side of town.
Mayor Shane Gunnoe outlined a plan for the project to pay back the city for all the infrastructure improvements needed to make the 30-home Crimson Cove subdivision a reality.
Instead of the new property taxes going to schools, city, and other local entities, 75 percent of that money will go to the city to pay for new roads, sewers, utilities, and other improvements.
Gunnoe says that arrangement would likely last for about eight to 10 years.
“The intent of this legislation is, let’s use the additional new revenue above what’s currently being paid to help ensure the citizens of Dover are bearing any of the cost of running that additional infrastructure.”
While the Tax Increment Financing (TIF) proposal means the schools and other entities won’t immediately realize the full tax benefit of the new addition, Gunnoe says they’ll still get more than what they’re getting now. He says the school district would get $32,000 a year during the agreement, then $128,000 a year after.
The development is proposed for 14 acres off East Ohio Avenue past Aspen Woods at the corporation limit. Developers say they could break ground on the first houses in about a year.
A public hearing for the TIF proposal is scheduled for July 17th.
It needs the approval of Dover City Council, the Dover Board of Education, and County Commissioners.