WASHINGTON COURT HOUSE — At the city Economic Strategies and Cooperation meeting Wednesday, it was reported that Jason Langley has been doing a good job in the rehab of the old Rolfe Building at 244 E. Court St. Economic Development Director Chelsie Baker reported that Langley will be moving his real estate business into one side of the building and will rent out the other side. The building will also have several apartments upstairs.
It was stated that the Heidler buildings at the shopping center at Elm Street and Columbus Avenue will be getting roof repairs done, and a new tenant is coming to the center. The Long John Silver’s building is also looking for a new tenant.
The building at the corner of Main and Court streets, which is set to be the new Vinyl Coffee after renovations, is owned by Branson Moody, and Moody has finished the four office spaces on the third floor. The renting of those spaces has begun.
The event “Art on the Square” will be held from 8 a.m. to 4 p.m. on Saturday, Aug. 10 downtown. It will be the seventh year for this event of showing 4×4 canvas art. The Main Street Event car show and entertainment will begin at 5 p.m. at the Main Street location by the courthouse.
The new economic development website is now online and available to view at www.businessinfayco-oh.com. The Fayette County site is interactive, shows available properties for businesses, local job opportunities, and much more.
The committee discussed using Residential TIFs in cooperation with a New Community Authority. A TIF is tax increment financing, an economic development mechanism available to local governments to finance public infrastructure.
The tax EZ program abates taxes, whereas a TIF does not change a taxpayer’s tax liability, but allows the taxpayer to make payments to a special fund in an amount equal to their taxes due. These payments are then used by the local government for debt incurred for infrastructure improvements needed for new property investments, such as roads, highways, water and sewer lines, electric and gas lines, etc. A TIF has an expiration date attached.
A New Community Authority means community development of property, which results in facilities for the conduct of industrial, commercial, residential, educational, and recreational activities with planned concepts for utilities, open space and other supportive means.
The development program is for a well-balanced and diversified land use pattern which includes land acquisition and land development, construction, operation, and maintenance of community facilities. (according to the ORC definitions)
