Ridge Pointe Re-Developments Support Petition
- von: Neyer Properties
- empfänger: Columbia Township Residents
What is the Ridge Pointe Project?
The Ridge Pointe Re-development project entails the transformation of the vacant K-mart building and associated land on Ridge Road into a mixed use office and retail campus. The plan will also include improving the landscaping along Ridge Road and providing a long term solution to the traffic congestion that exists at Highland and Ridge.
How will the Ridge Pointe benefit YOU the residents of Columbia Township?
1. Crime prevention in the area:
%uFFFD This project will help reduce crime in this area by eliminating vacant property, creating appropriate security lighting and enhancing visibility to both the public and law enforcement officers.
2. Columbia Township Revenues:
%uFFFD The Ridge-Highland corridor needs additional and enduring investment to avoid deterioration in property values. Re-developing the existing K-mart will help sustain and bolster Township revenues, avoiding a reduction in services provided to the township residents.
3. Reduce increases in residential property taxes:
%uFFFD This project is an investment in excess of $15 million and helps to stabilize and protect at least $100 million of existing property values from declining in the Ridge-Highland corridor. Stabilizing or Increasing these commercial real estate values will help reduce future increases in residential property taxes for the Township residents.
4. Long Term Vision to Alleviate Traffic Problems at Ridge and Highland:
%uFFFD This project is designed to provide a long term solution to the traffic and congestion problems that occur at the I-71 South exit and Ridge-Highland intersection by transferring approximately 2.6 acres to the township for the future construction of this roadway.
How can YOU help make it happen?
In order to help this plan move into action, we need YOU and your neighbors to support this project by signing the attached petition, that we can present to the Township officials to show your support. This petition will request that Columbia Township Trustees to support Tax Increment Financing (TIF) for our project.
What is a TIF?
What is a TIF? A TIF is a public financing method, used for redevelopment and community improvement projects. It is a tool available for use by local governments in Ohio to finance public infrastructure improvements and redevelopment of distressed properties. Payments derived from the increased assessed (taxable) value of any improvements beyond the current amount are directed towards paying for these improvements, until the costs are paid off which then become added tax values that are provided to the Township. One key factor to note about this type of financing is that there is no financial burden or risk on the Township. The property owner is fully responsible for any and all payments required by the TIF.
If you have any question about the project or need more information on a specific item, please do not hesitate to call Dan Neyer, Jeff Chamot, or Jared Wendling at (513) 563-7555, as we would be happy to help you. If you are in support of the of the Ridge Pointe Re-development and want the Township Trustees to approve the TIF to help support our project, please sign the petition and help benefit the future of you and your fellow neighbors of Columbia Township.
PETITION IN SUPPORT OF REDEVELOPMENT OF THE FORMER K-MART SITE
We the following residents and signatories of Columbia Township submit this petition in support of the Neyer Properties Mixed Use Office & Retail Development and the proposed TIF financing on the former K-Mart Site located in the above named Township at 5500 Ridge Road. The signatories of this petition understand the following:
A: TIF Financing is necessary to allow a high quality mixed use, LEED certified (green) redevelopment of a blighted site which will help spark a transformation in this vital commercial corridor of Columbia Township;
B: Columbia Township Trustees should support this project and TIF and cooperate with Neyer Properties in order for this development to occur; The time is now to proceed forward;
C: Neyer Properties and their partners will make a private investment to create in excess of $15,000,000 of value in this project and it will generate higher property values and tax revenues in this area;
D: Land will be transferred to Columbia Township for their future use and maintained by Neyer Properties for 10 years so there are no ongoing costs to Columbia Township during this period;
E: Columbia Township had an appraisal prepared for this land which stated the value of the land to be approximately $1,200,000 however we understand that the transfer must occur at a value of $1,900,000 in order to allow the development project to proceed forward;
F: Columbia Township will have no financial risk relative to the TIF financing and the payments required; all risk of payment will be borne by the developer.
We the below signatories fully endorse this petition as residents of Columbia Township.
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