Revised contracts for Miami Twp. development districts involving Dayton, Miamisburg and Springboro have for the first time established minimum annual payments to those communities.
Tax revenues for the Miami Twp.-Dayton Joint Economic Development District, the Miami Twp.-Austin Center JEDD and Miami Crossing JEDD have grown rapidly enough to guarantee set amounts of funds are dispersed – totals which were easily surpassed in 2017.
The revenue growth for the three districts is “a significant accomplishment,” said Steve Stanley, chairman of the township’s Austin Center JEDD, which was the first to adopt a new contract last year.
The revised deals for the Dayton JEDD and Miami Crossing – formerly Dayton Mall – were adopted in December. Miami Twp. receives the majority of tax revenue disbursed to communities.
But the increase in businesses - and funding – has significantly helped Miamisburg, longtime Mayor Dick Church, Jr. said.
“Most of Miami Twp. carries a Miamisburg ZIP code,” he said. “A lot of people (in the township) have a Miamisburg mailing address.
“We need to make sure that the entire Dayton Mall area is kept in great order. We need to work with the township to make sure that we’ve got businesses coming into the township and the Dayton Mall,” he said.
Austin Landing is in the Austin Center JEDD that includes Miamisburg and Springboro, with the township receiving about 57 percent disbursements, Miamisburg about 22 percent and Springboro about 20 percent. It now has a minimum annual disbursement total of $300,000.
That is the same total minimum payout from the Miami Crossing JEDD, from which the township gets 70 percent and Miamisburg receives 30 percent. Payments from the Dayton JEDD, which total at least $200,000 annually, are split 50/50 with the township and the city.
Combined, the three districts brought in an estimated $2,102,598 last year, topping 2016 figures of $1,774,805, documents show.
Miami Twp. disbursements for 2017 totaled $1,040,792, up from $630,918 the previous year, records show.
Miamisburg received $374,738, compared to $214,484 in 2016. Springboro got $185,103 last year, about three times more than 2016’s $61,701 while Dayton brought in $119,576, about $5,000 more than the previous year, records show.
Other highlights of the contracts include:
-No increases in income tax rates. The Dayton JEDD’s rate remains at 1.75 percent while Austin Center’s and Miami Crossing’s stay at 2.25 percent.
-They allow residential/multifamily use. Local officials said this is due to a change in state law that expands uses permitted in a JEDD.
-They include various language changes. For instance, local officials said, Montgomery County was initially part of what is now the Miami Crossing contract, but has now been eliminated.
-MORE COVERAGE ON THE ISSUE:
RELATED: Study: Land near airport can capture defense, aviation jobs