The City Council of New Franklin, Ohio, held a meeting on May 25, 2025, to discuss a proposed tax incentive aimed at facilitating local development. The primary focus of the meeting was on a Tax Increment Financing (TIF) agreement that would redirect property tax revenue generated from new housing developments.

Under the proposed TIF, once development begins and homes are constructed, the property tax revenue that would typically go to Summit County and be distributed to local entities, including schools and the city, will instead primarily benefit the city. The city would receive 54% of the property tax revenue generated, which is a significant increase compared to what it would receive without the TIF. The local school district, specifically the country school district and JBS, would also receive 54% of their usual share.

The TIF is designed to support developers by providing them with funds to offset their infrastructure costs, which are estimated to be between $18 million and $19 million. The agreement stipulates that the funds received by the city must be used within the TIF District or for projects that substantially benefit the area.

City officials emphasized that without the TIF, the developers would likely not proceed with the project due to the high costs involved. The TIF is seen as a crucial tool to stimulate growth and development in New Franklin, allowing for necessary infrastructure improvements while also benefiting the city and local schools.

The meeting concluded with a consensus on the importance of the TIF in promoting economic development and addressing the financial challenges faced by developers. Further discussions and approvals are expected as the city moves forward with the proposal.