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Council Considers Plan to Revitalize Downtown Districts

GREENVILLE – “This sounds almost too good to be true,” said by former councilman Todd Oliver at a council meeting in June. The comment was echoed on Tuesday by Council President John Burkett when Larry Green of the Montrose Group presented an update on the plan to initiate nine Downtown Revitalization Districts (DRD) in the city.

From the March 14, 2018 edition of The Early Bird

By Ryan Berry, Managing Editor

GREENVILLE – “This sounds almost too good to be true,” said by former councilman Todd Oliver at a council meeting in June. The comment was echoed on Tuesday by Council President John Burkett when Larry Green of the Montrose Group presented an update on the plan to initiate nine Downtown Revitalization Districts (DRD) in the city.

DRDs were approved by the state legislature in 2016 to help communities improve historic properties in downtown districts. The DRDs must be anchored by a historic building or historic district and encompass 10-acres per district. The advantages to having these districts, according to Green, are many, including TIF (Tax Increment Finance) funds to use for investing into businesses or infrastructure needs.

When businesses or other property owners improve their properties in the districts, the city would receive 70 percent of the increase in property taxes in the form of a TIF. The current baseline was set by the Darke County Auditor’s most recent property valuation. The remaining 30 percent of the increase would continue to go to the appropriate taxing authorities. These districts can be set up for anywhere between one and 30 years. If a district is set up for more than 10 years, council must get approval from Greenville City Schools (GCS). Council suggested they would like to seek approval from GCS to extend the district for the entire 30 years to maximize the funds. The city also has an option to renew the DRD, but the baseline would be adjusted......

Click Here to Read the Complete Article in The Early Bird