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COLUMBIANA -- The city may consider using tax increment financing (TIF) on a project at the Firestone Farms TownCenter in order to improve water pressure throughout the city.
City Manager Lance Willard told council last month that there is an idea to establish a TIF on the new Salem Regional Medical Center facility, which is opening soon.
A TIF is an economic development tool available to local governments in the state to finance public infrastructure improvements and allows for tax exemptions to improvements on private property that are serving a public purpose.
Specifically, Willard said that the idea would be to use 75 percent and 10 years worth of eligible real estate taxes from the SRMC facility to go toward infrastructure improvements, with one option being to improve or maintain water pressure for the whole city.
Willard said that engineering firm Burgess & Niple will be performing a pressure study throughout the city soon and will be making some recommendations.
"Depending on those results, what we could do is take that money that we just talked about with a TIF and use it to make some type of improvements. Keep in mind, it needs to be related to the project," he said.
He said it would be a good idea to check out the water pressure at the SRMC facility.
On another matter, Willard also told council that the city has been approved for the Ohio Department of Transportation Small Cities Grant, to be put toward a rebuild of Fairfield Avenue from the railroad tracks to Duquesne Street.
ODOT will fund 80 percent of project with a $1.5 million grant. Construction is expected to take place in fiscal year 2027, Willard said.
He added that the ODOT Small Cities grant program was also used to pave East Park Avenue, Springfield Road, and Heck Road, and is also being used to pave Fairfield School Road and Lisbon Street next year.
Council will be asked to pass legislation approving the grant at a later date, likely closer to the project, he said.