The City Council of New Franklin, Ohio, convened on May 25, 2025, to discuss several key issues, primarily focusing on the Tax Increment Financing (TIF) proposal for a new development project. The meeting began with a detailed examination of the proposed 8% interest rate on the debt service associated with the TIF. Council members engaged in discussions about the rationale behind this rate, which was determined by current borrowing rates and previous municipal deals.

The conversation highlighted the potential benefits of the TIF, including the possibility of generating additional revenue for the city through property taxes once new homes are constructed. Estimates suggested that if 20 homes were built, the city could see an increase of approximately $83,000 in annual revenue, which could rise to $183,000 with 12 homes. However, after accounting for TIF payments, the net revenue would be around $98,000, which could support essential services like police and fire.

Concerns were raised regarding the transparency of the TIF discussions, with some council members questioning why there had not been more public dialogue about the proposal. The mayor acknowledged that while there had been general discussions in public meetings, the specifics of the negotiations required confidentiality to protect the interests of the developer. This led to a call for more public engagement as the project progresses.

Another significant point of discussion was the infrastructure implications of the development, particularly regarding sewer capacity. Council members sought clarification on whether the new pump station would accommodate future developments beyond the initial 22 homes. The mayor assured attendees that the design would allow for potential extensions to serve additional residents.

As the meeting concluded, council members expressed a desire for further dialogue on the TIF and its implications for the community. The mayor noted that while the TIF could provide financial relief and stimulate economic growth, it was essential to ensure that the benefits were equitably distributed and that the community's concerns were addressed.

Overall, the meeting underscored the complexities of municipal financing and development, as well as the need for ongoing communication between the city council, developers, and the public to foster a transparent and collaborative approach to urban growth.