The Turtlecreek Twp. Board of Trustees plans to use property taxes from residential and commercial development in the 1,400-acre Union Village development to pay for roads and other infrastructure for the $445 million development.
The township sent out letters last week advising the Lebanon City Schools, Warren County and the Warren County Career Center of plans to hold a meeting on April 25 for a decision on setting up tax incremental financing districts to set aside property taxes to help pay for the project.
The proposed township plan calls for diversion of 50 percent of property taxes on up to 4,500 homes approved for the development to be built and 100 percent for commercial development for 30 years.
The property is owned by Otterbein Senior Lifestyle Choices and includes its main retirement campus off Ohio 741, south of Springboro.
The trustees and Otterbein have yet to reach agreements on tax sharing. Ottterbein has agreed to donate land at Union Village for a sports complex, once the tax sharing has been agreed upon.
But establishment of the special tax districts would be a big step forward for the project, approved in October 2014.
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