MOUNT VERNON — Mount Vernon City Council approved a measure Monday night in a special session that will create a revenue source to fund the future expansion of Sandusky Street.
Approved by a unanimous vote, the creation of the Tax Increment Equivalent Fund (TIF) District, will take advantage of future commercial and industrial property values. This district encompass Sandusky Street from Tilden Avenue to the Ohio 586 split at Newark Road. Also included in the district is the former ANC property as well as Rolls-Royce.
No increase in property taxes will be realized, the creation of the district determines that taxes from increases in value will be designated for infrastructure improvements within the district boundaries.
Mayor Richard Mavis said improvements from Chestnut Street to Ohio 586 will include the purchase of properties, widening of the street and the construction of a bridge over the Kokosing River.
Councilman John Fair questioned whether or not city administration has a plan to move the project forward.
According to Cameron Keaton, city engineer, Richland Engineering prepared a study that includes eight options to cross the river.
“The AMVETS building will have to be purchased, and the bridge will go in there,” Keaton said. Where it will connect with South Main Street has not been determined.
“The Dan Emmett house will have to be moved again,” Mavis said.
Fair stated he was “leary” to approve the ordinance without seeing a plan. Keaton responded by stating it would be cost prohibitive if properties were purchased as part of a plan rather than acquired as they become available as the city has done already.
The creation of the district will allow funds to accrue that will be used to fund the steps in the proposed project.
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