The Warren County Port Authority voted to subsidize development of a 242-unit apartment building to launch a mixed-use community in southern Warren County.
In a teleconference meeting this week, the board approved a resolution agreeing to enable developers of the building as much as $750,000 in sales tax savings on the $28 million, 242-unit apartment building - the first of 12 planned at the District at Deerfield.
The vote, conditional on obtaining a letter and development agreement demonstrating Deerfield Twp.’s support for the deal, was cast in the absence of board member Dave Bolton, who questioned the deal last week.
“I don’t see how that’s economic development,” Bolton said during a meeting last week. “I don’t understand why this money is being spent by the public.”
Five board members, Greg Sample, Tiffany Zindel, Tammy Laine, Matt Layer and Cheryl Reindl-Johnson voted to conditionally approve the resolution.
Bolton and board member Greg Ficke were absent and did not vote.
After the meeting, the county obtained a copy of a development agreement between the township and Wilkens Associates II LLC, the name Silverman has taken for this project. The township has agreed to use property tax funds diverted into a tax incremental financing fund to pay for the main road into the development. Also the township is to own the park area at the center of the District of Deerfield.
In the agreement, the township agrees to contribute nearly $4.8 million to the project. The developer has until the end of 2021 to complete the development.
With two members absent on Monday, the board approved 5-0 a resolution to enter into leases with the developer, Silverman and Co. The leases and other agreements needed to seal the deal were not approved on Monday.
The 28-acre District at Deerfield would join a handful of walkable, planned, mixed-use communities in the area, including The Greene, Austin Landing, Liberty Center and the proposed Austin South Springboro.
West of the Fields-Ertel-Mason-Montgomery Interstate 71 interchange, the District at Deerfield is to include $140 million in development, including a two-acre public square and an entertainment district, brewpubs, retail and restaurants.
Zindel, who is also the county administrator, said she motioned to conditionally approve the resolution so that the developers could continue forward with work at the site.