The income tax revenue for the district around the Dayton Mall has annually topped $750,000 since a master plan was adopted for the area two years ago.
The infusion of funds that surpassed $800,000 this year has allowed local officials to budget money to aid development projects that can help spur the type of economic growth outlined in that long-range document. So far, no projects have been worthy of significant funding by the newly-renamed Miami Crossing Joint Economic Development District Board of Trustees, said Chris Snyder, its treasurer.
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“While we’re budgeting funds for development in the district, we’re certainly not planning to spend those monies if we don’t have a project that’s worth that expenditure at that point and time,” Snyder, Miami Twp.’s community development director, told area leaders recently.
“Some of these funds are being reserved back in case we do have development opportunities that the JEDD would like to participate in,” he added.
Snyder and officials with the city of Miamisburg – which shares the JEDD with the township – hope ongoing talks result in new development.
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“It’s the goal of the JEDD to grow economic activity,” Snyder said. “We do have a number of projects that we’re looking at that hopefully will be going just beyond the study phase, to the construction phase.
“Certainly, we foresee the JEDD participating in those projects – as well as potential redevelopment projects that may occur around the Dayton Mall itself in the future,” he added.
The master plan adopted by the JEDD in December of 2015 outlined more than $200 million in proposed investment in a 2.2-square mile area around the mall. A market assessment showed the plan could create 1,200 multifamily residential units, and more than 350 new jobs from thousands of square feet of new retail and office space within 12 years.
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In late October, the township announced an Outback Steakhouse and space for an additional tenant will be transforming the Dayton Mall area formerly occupied by Sears Auto Center.
The past 12 months, said JEDD Vice Chair Chris Fine, a significant effort was put into marketing the Miami Crossing name, which both the township and the city voted this month to replace Dayton Mall in the JEDD’s name.
Next year, officials want to meet with many of the 23 commercial businesses and five government facilities within the district to share ideas to improve the JEDD, said Fine, Miamisburg’s development director.
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“We want to roundtable with the businesses and discuss their needs, how we can better help them improve and move the district forward,” he added.
Fine said the JEDD board wants members to help “evaluate the district plan as needed and continue developing the Miami Crossing brand through marketing and those types of activities - and assist member businesses in development and expansion projects as needed.”
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