Miami Twp., Miamisburg and Springboro have all approved a new agreement for the Austin Center Joint Economic Development District off of Interstate 75.
The Austin Center JEDD, which includes much of Austin Landing, was created in June 2009. It allows the three communities to levy 2.25 percent income tax on all retail businesses and some offices within the boundaries. Miami Twp. receives about 57 percent of the taxes, Miamisburg about 22 percent and Springboro about 20.5 percent.
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Among the highlights of the new agreement:
1. It provides a minimum combined total of $300,000 in annual disbursements among the jurisdictions. This was the amount disbursed in 2016. For 2017, $900,000 is budgeted.
2. It provides that the entire area within the district is a mixed-use development, which allows all JEDD parcels - including apartments – to be subject to income taxes. It also allows for redevelopment within the district.
3. It provides compensation for the tax administrator, in the current case Miamisburg. The tax administrator will receive 5 percent of the district’s prior year income tax revenues.
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