Label
Council President Hartman
City Center TIF O-145-25
Agenda Review
4/1/2025
Title
From: Council President Hartman Response Requested: ASAP
What is the current balance of the City Center TIF and what is the 2025 anticipated revenue for the City Centre TIF
Body
Referral Response:
TO: Council President Hartman
THROUGH: Deputy Mayor Abby Arnold
FROM: Brandon Sehlhorst
The current balance of the City Center TIF is $875,907. However, the balance of the City’s portion of the City Center TIF is $631,930, which does not include the current proposed expenditure of $50,000 to reimburse the Toledo Mud Hens for infrastructure expenses related to the Hensville Festival Street project.
The total anticipated revenue into the City Center TIF in 2025 is $285,656.
Pursuant to Ordinance 468-19, a Cooperative Agreement with Lucas County was authorized that created the following structure for the split of the total annual City Center TIF proceeds:
• Years 1-12: City 75%, County 25%
• Years 13-30: County 100% of County Parcels Only, City 100% of All Other Parcels
Lucas County is in the process of formally requesting reimbursement for eligible public infrastructure expenditures of $218,977.
