Huber Heights is set to revamp its economic development strategy following a recent council work session where officials discussed significant changes to the Meadows Tax Increment Financing (TIF) district and the introduction of a new Economic Development Grant Program.

During the meeting, city officials highlighted the need for an audit of existing TIF agreements to ensure legal accuracy and compliance. The current Meadows TIF, which was originally established for housing developments, has been identified as problematic due to its misclassification as a commercial development. Key issues include the absence of specified tax increase percentages and a defined time period for the TIF, which typically spans 30 years. The city aims to rectify these discrepancies with a new TIF that maintains the original goals of funding public improvements, such as facade enhancements and infrastructure upgrades.

The timeline for implementing the new TIF is progressing, with a public hearing scheduled for June 9, followed by a recommendation to waive the second reading of the ordinance. This proactive approach is expected to prevent any potential loss of revenue, as the audit revealed that no funds had been captured under the previous TIF.

In addition to the TIF discussions, the council introduced a new Economic Development Grant Program, allocating $125,000 for 2025 to support local businesses, particularly those owned by veterans, women, and minorities. The program will be funded through the sale of city-owned property and aims to foster entrepreneurship and community representation. Eligible businesses must be located in Huber Heights and in good standing with city regulations. The application process is designed to be straightforward, with a grant review committee overseeing the evaluation of proposals.

These initiatives reflect Huber Heights' commitment to enhancing its economic landscape and ensuring that local businesses thrive. As the city moves forward with these plans, officials are optimistic about the positive impact on the community and local economy.