Piqua BOE hears TIF request for redevelopment project


By Jill Summerville

For Miami Valley Today

PIQUA — The city of Piqua is seeking the school district’s approval to impose a tax incremental finance (TIF) incentive to pay for the redevelopment of the property on 902 Scott Drive, which was formerly known as the Red Roof Inn.

At the Aug. 24 Piqua BOE meeting, Chris Schmiesing, community and economic development director for the city of Piqua, shared the city’s plans to demolish the condemned Red Roof Inn currently at the site. The city and the owner of the condemned building are in negotiations with a Cincinnati development company to build a hotel, possibly a Courtyard by Marriott, Hilton Garden, or Hyatt Regency, and one or two name brand restaurants on the site, he said. The development company predicts the new businesses will be ready to open by 2025.

The company’s contract with the Red Roof Inn owner ends on Sept. 30 and needs to close on the property 30 days before the contract ends. Since the redevelopment company will not be permitted to extend this deadline, the city of Piqua seeks the approval of a tax incentive permitting the city of Piqua to invest in this public works project upfront by diverting tax revenue raised through improvements to the property to a redevelopment company. Schmiesing shared that currently the company estimates it will need to pay $2 million in redevelopment costs, for completion of demolition, extending Scott Drive, making street improvements, running new sewer line and a new water main line through the site, as the condemned property sits on a well.

Emmett Kelly, whom the city of Piqua retained from the law firm of Ross, Brown, and Todd, was present at the meeting to explain the legal procedures surrounding a TIF. If approved, the tax incremental finance incentive must be lifted after 30 years, or when the expenses for the project have been recouped. The Board of Education did not yet voted on the city’s proposal.

The Board of Education unanimously approved the superintendent’s agenda, the personnel agenda, and the treasury agenda. The superintendent’s agenda included acceptance of recent donations raised and approval for bus routes and for the district’s plan for providing services to students who are identified as gifted. The personnel agenda included completing screenings for children who are starting kindergarten. The treasury agenda included the approval of a $1,200 per month stipend for Ami Fashner and a $1,100 per month stipend for Kiara Brown, who will both be working at the primary schools.

Also during the meeting, the Government Finance Officers Association of the United States and Canada, awarded the certificate of achievement for excellence in financial reporting to the Piqua City School District for its annual comprehensive financial report for the fiscal year ending June 30, 2022.

The writer is a regular contributor to Miami Valley Today.

No posts to display