Heading Logo

Development will increase revenue for school district

John Lowe / New Concord Leader Published: March 28, 2012 8:06 AM

NEW CONCORD A proposed development in the village would bring an immediate increase in revenue for the East Muskingum Local School District, board members learned Thursday.

The development, tentatively titled Community Commons, would add $4,000 annually right away to the tax revenue the schools receive, Village Administrator John Huey told board members during last nights school board meeting.

Once the loan to pay for infrastructure improvements was paid off, the schools share of tax revenue would jump to $18,000-$20,000 annually, Huey said.

Currently, the property where the development would come to fruition generates less than $2,000 annually for the schools, Huey said.

Community Commons would be at the northeast corner of Main Street and Friendship Drive.

[Article continues below]

The development would be anchored by a bank and would include a row of retail stores with condominiums or apartments above them. It also would include a spacious, landscaped parking area.

Prior to constructing the new buildings, the village will need to make some infrastructure improvement, including the replacement of a sewer main that was built during the Great Depression by workers of the Work Progress Administration.

Altogether, the improvements will cost $3-$4 million, Huey said.

The village will sell bonds to finance the work. Village officials hope to be approved for Tax Incremental Financing as a method of paying off the bonds.

Whether the village is approved for the TIF funding will determine the extent of the infrastructure improvements.

Huey said the developer hopes to begin the process with asbestos removal within the next several weeks. That will be followed by demolition.

Construction - which will be in two phases - cannot begin until final approval is forthcoming from Village Council, Huey said.

Among other business Thursday, the board recognized the accomplishments of a group of eighth-grade students from East Muskingum Middle School:

Zansville Sertoma Essay Contest winners - Alexis Alfman, Eleanor Mullins, Jake Whaley and Paige Zachrich;

VFW Patriot Pen Essay Contest winners - Charlie Bowman, Don Ingold and Paige Zachrich;

United States Achievement Academy National Honor Student Award winner Deanna Cowgill; and,

Ohio Department of Natural Resources Explore the Outdoors Fall Color Photography Contest winner - Minnie Lucas.

We know how intimidating it is to stand up in front of us, board President Gail Requardt said. Were proud of you and appreciate how well you have represented our



Rate this article

Do you want to leave a comment?   Please Log In or Register to comment.