Springboro finishing central intersection, diverting tax on next phase

The final touches are about to be put on intersection improvements at Springboro’s central crossroads. STAFF/LAWRENCE BUDD
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The final touches are about to be put on intersection improvements at Springboro’s central crossroads. STAFF/LAWRENCE BUDD

The final touches are about to be put on intersection improvements at Springboro’s central crossroads, and the city council is scheduled to consider voting to set up a special taxing district diverting revenues from the redevelopment of the northwest corner.

RELATED: Intersection makeover clears way for crossroads redevelopment

More than $20 million is being spent on the two projects expected to totally make over the area around the intersection of Ohio 73 and Ohio 741, Central Avenue and Main Street in Springboro.

“Weather permitting, work will begin on the crosswalks on Monday, June 18, and should last 4-5 days, as long as Mother Nature cooperates. Traffic will be maintained and the intersection will remain open; however, with worker safety being of utmost importance, some lanes may be shut down as work is being done,” the city said in a message emailed this morning.

The delivery is actually expected next Monday, June 25, and the work done by the end of next week.

RELATED: City to tear down Speedway for crossroads project

Tonight, Springboro City Council is scheduled to consider approving legislation establishing a 10-year, 100 percent tax incremental financing (TIF) district for the northwest corner. That is where Mills-Barnett Development has agreed to spend $10 million on a commercial development anchored by a $3.5 million Springboro Center for the Performing Arts and $3.7 million in roads and other infrastructure.

RELATED: View city redevelopment preliminary plan, survey

“However, this TIF will make the Springboro Community City Schools and Warren County Career Center (WCCC) ‘whole’ from a property tax perspective. Meaning, the schools will receive every property tax dollar earmarked for the schools and WCCC from future development that they would have received before the TIF was created,” City Managger Chris Pozzuto said in a memo to council.

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A map attached to the legislation indicates the area included in the TIF redevelopment area includes a small piece of land on the southwest corner where a Speedway station-convenience store previously was located and a larger L-shaped parcel on the northeast corner where a service station, carpet store and pizza parlor were located before the land was purchased by the city during the intersection improvement project.

RELATED: City buying shopping plaza for $3.4 million

The city has already spent $10 million on the intersection redesign and acquisition of the former Springboro IGA Plaza on the northwest corner. Pozzuto said it plans to use a rebate from money committed to the intersection to fund infrastructure for the redevelopment of the corner.

The council meets tonight in work session at 6 p.m. and in formal session at the Springboro Administrative Center, 320 W. Central Ave.

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