MOUNT VERNON — An improvement project to widen and expand Ohio 13 along South Sandusky Street is in the planning phases with the City of Mount Vernon. Tentative plans include the erection of an expansion bridge across the Kokosing River which will take traffic from South Sandusky Street across the river west of the former The Station Break.
A way to fund such a project has been identified as a Tax Increment Financing district. TIF districts were created in the 1950s as a means of providing local governments a way to fund public infrastructure improvements.
TIF districts are created by city council and are approved by the State of Ohio. TIF district tax revenues are generated through the property values of participating parcels over the designated period of time. A separate account is created where funds are put in and are restricted. “These dollars can only be used in that geographical area for improvements,” said city auditor Terry Scott.
Scott said that the proposed TIF district corridor incorporates as many as 720 parcels and runs along Sandusky Street and Ohio 13 from the northern city limits south to Ohio 586. This will be the third TIF district created in Mount Vernon. Other existing districts are on Coshocton Avenue and Blackjack Road.
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