Board adopts amended tax‑increment financing agreement; city to pay district 85% of TIF receipts and provide scholarships

The Green Local Schools Board of Education voted to adopt an amended and restated tax‑increment financing (TIF) compensation agreement with the City of Green, consolidating three prior agreements into a single document.

Board discussion summarized the agreement: by longstanding local practice the city had reimbursed a portion of TIF collections to the district, and under the amended document the city will provide 85% of the eligible amount to the school district in a biannual payment. A district official noted that by law the city would only be required to reimburse 75%, but the city has agreed to a higher sharing percentage as part of the cooperative arrangement.

Board members said the agreement extends over a long term (the superintendent cited a year that sounded like "02/1932" during discussion, which appears to be a transcription or verbal slip and should be confirmed in the formal agreement text). The board also said that businesses within the TIF area will be asked to provide scholarships for graduating seniors as part of the agreement moving forward.

The motion to approve the amended and restated TIF compensation agreement carried on a 4‑0 roll call. Board staff said they would complete the administrative steps necessary to finalize the consolidated document and execute it with the city.

Board members framed the agreement as mutually beneficial: higher property values help the district and the city cited collaboration to support long‑term fiscal stability. The board did not present the full two‑page agreement text aloud during the meeting but voted to adopt the consolidated document.