City council will hold a public hearing at city hall, 6131 Taylorsville Road, on the creation of the TIF district on Oct. 22 at 7 p.m., said Huber Heights Assistant City Manager Bryan Chodkowski.
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The TIF district would encompass the current Lexington Place subdivision, the planned second phase of the Lexington Place subdivision, plus a third area where another subdivision has been proposed to be built.
Residents whose property is partially out of the TIF district can choose whether to stay in, Chodkowski said. Those residents would have to make that decision by October 20.
Residents of the TIF district would not pay an additional tax.
The taxes they would normally pay will just be redirected towards improving the Chambersburg Road corridor. The Chambersburg Road project would include widening the road and creating a walking path, Chodkowski said. The project is estimated to cost about $3.5 million. Chodkowski said he estimates that the TIF district will bring in about that much.
The TIF district will not collect tax money that would go toward schools.
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For every dollar collected in taxes in Huber Heights, Chodkowski said, 10 cents goes to the city, 25 cents goes to Montgomery County and 65 cents goes to the school district. The TIF would redirect the city and county’s 35 cent portion of that to the Chambersburg Road project.
After the public hearing, city council will read the legislation on the TIF and then vote on the district at its November 25 meeting.