Trustees of this Warren County township became the final body to approve a web of agreements for Union Village, a 4,500-home planned community featuring a 109-acre, $15 million sports complex.
The Turtlecreek Twp. trustees on Tuesday unanimously approved tax incentives on residential and commercial development, and formation of a new community authority, for the new urbanist community to cover more than 1,400 acres, including the existing main campus of Otterbein Senior Lifestyle Choices.
The three trustees approved tax incremental financing (TIF) district that will forgive half of the property taxes on homes and all the property taxes on commercial developments for 30 years to offset the cost of construction of roads and other infrastructure for the project.
In addition, after a public hearing, the trustees approved formation of a new community authority to assess property owners and other users and use the proceeds to maintain the development, build amenities and fund services.
Now that the trustees have approved the tax incremental financing district and authority, as well as agreements to provide fire protection and other services to the development — projected to exceed 12,000 residents — Otterbein is to transfer 109 acres to Warren County for a sports park.