The Worthington City Council will consider resolutions approving the 2021 tax levies collectible in 2022 during its 7 p.m. Monday night meeting.
On Sept. 13, council members approved a proposed property tax levy of $5,915,331 for 2021, a 17.08% increase over 2021. It is staff's recommendation to approve the final levy in the amount of $5,681,145, a 12.44% increase over the previous year.
Also on the agenda for Monday’s meeting are a public hearing on establishing a tax increment financing district for Sherwood and Lake streets as well as a public hearing on Eighth Avenue street reconstruction improvements.
The city plans to exchange Cemstone's two parcels of land along Sherwood Street for an equal number of acres of city-owned land in the North Industrial Park. This swap will allow Cemstone to expand its facilities and create a new opportunity for commercial development at the current ready-mix operations site. To assist with reimbursing the city’s expenses incurred with the land swap, the city has proposed the establishment of a tax increment financing with a maximum of 26 years of tax increment. While the City anticipates some expenses related to the Cemstone site, it’s estimated the tax increment generated on the site will exceed the expenses. Therefore, the proposed TIF District also includes three parcels located at 106 Lake St.
The Eighth Avenue improvements, meanwhile, would extend from Ninth Street to the avenue’s westerly terminus. There are three options to be considered for the work – bituminous surfacing, concrete surfacing, or bituminous or concrete surfacing as determined following receipt of alternate bids. As the street reconstruction improvements were not initiated by petition, a four-fifths vote of the council membership will be required to order those improvements ahead.
The complete agenda for Monday’s meeting can be found on the City of Worthington website.