Thursday, February 27, 2003

Twp. may grant $4M to developer



By Jennifer Edwards
The Cincinnati Enquirer

WEST CHESTER TWP. - Trustees are considering granting at least $4 million in tax increment financing over nearly 20 years to a mall developer at Union Centre Boulevard and Interstate 75.

The Streets of West Chester expects to open in June with a movie theater and restaurants, said David Kass, president of Continental Retail Development. Shops and about 400 apartments or condominiums also are expected to get under way soon.

Kass wants tax increment financing (TIF) for his $100 million project because he has invested $25 million so far. Some of those costs include paying for infrastructure such as roads and utilities for his development, which is on the southeast corner of the interchange. The infrastructure, he says, lays the groundwork for other, future development east of the interchange.

Now, development at Union Centre is west of the expressway.

He told trustees in a Tuesday work session that he expects his lifestyle center to generate $12 million in property taxes over the next 20 years.

But West Chester trustees were lukewarm to the proposal and did not give Kass a decision.

"He is asking for in excess of $7 million when you count the interest, which also has to come out of the tax revenue off that development," Trustee Catherine Stoker said. "... We need to examine whether or not that might be overreaching supporting the development with future income."

Butler County Engineer Greg Wilkens cautioned trustees to preserve money out of TIF funding already in the Union Centre area to pay for needed improvements west of I-75.

E-mail jedwards@enquirer.com.




TOP STORIES
Elderly victim was tortured, coroner says
Violence comes to North End
N.Ky. nurse one of first to get vaccine
Two city police officers fired

IN THE TRISTATE
City homicides outpacing 2002
Defendant says he wasn't driver
Swarm wants into school
Delta to test new security program
City to borrow $6.5M to upgrade recreation
CPS contracts with minority businesses growing
Norwood's budget $2M shy of last year
Obituary: Dr. Erin Talbot McNeill
Tristate A.M. Report

ENQUIRER COLUMNISTS
RADEL: New ballpark pity parties
PULFER: Frank Abagnale Jr.
HOWARD: Some Good News

BUTLER, WARREN, CLERMONT
Liberty Twp. changing its administrator
Students talk to overseas soldier
Ky. team to play, but in Ohio
Mason wins appeal in land purchase dispute
Twp. may grant $4M to developer
Eads-Stumpf benefit raises over $12,500
Agreement on Mason center in final stage
Complex open to public Saturday
Lebanon to extend sewer to subdivision
Contract signed for skate rink to move
Grant for two schools teaches about disabilities

OHIO
This town is party central
Ohio Moments

KENTUCKY
Former jail worker accepts settlement
Flooding a close call, but Tristate escapes
E-mail inaccurately claims tax vote delay
Activist knows cold and fear of living on the riverbank
Bill targets corrupt Ky. officials