Common use of Economic Development Priorities Clause in Contracts

Economic Development Priorities. The immediate priority of the District is to determine the appropriate infrastructure necessary to support development within the District. In November 2021, the District contracted The Kleingers Group, a civil engineering, survey, and landscape architecture firm headquartered in West Xxxxxxx, Ohio, to develop a master plan for the XXXX area and other development sites near the District, depicted in Schedule A of this Economic Development Plan (the “Master Plan”). The Master Plan contemplates multiple scenarios where the District could proceed with developing the XXXX area by first starting with a single parcel within the XXXX area before proceeding to develop other parcels. The Master Plan identifies the infrastructure that would be necessary to serve each site, while also priming the rest of the XXXX area for optimal development. The District acknowledges that the Master Plan depicts options for development within the District, and that the District may pursue other opportunities that would enhance economic endeavors and bring new jobs to the District as they may arise, provided that such other opportunities shall be generally consistent with the nature and type of capital improvements described herein. In accordance with prior approvals with the District, the District has partnered with, and will continue to partner with certain development projects requiring infrastructure improvements. Moving forward, the District anticipates supporting the development of large- scale industrial and commercial properties within the XXXX area by providing infrastructure, as necessary and appropriate. In the event that such a development opportunity arises, the District may use income tax revenues collected by the XXXX to pay for the costs of infrastructure improvements that support the development. The District anticipates that the infrastructure costs contemplated in the Master Plan and/or the infrastructure costs incurred to support the development of large-scale industrial and commercial properties within the XXXX area will be funded from XXXX revenue and other publicly available sources. The District expects that such funds will become available by December 31, 2026, and that such funds will be used to pay the costs of some portion of the utility infrastructure necessary to serve at least some portion of the District by that same date. The District will likely incur additional infrastructure costs through December 31, 2032. The District will work closely with other local governments, including the Village, the Township, the City, Pickaway County and, other public and private entities as necessary and appropriate, to provide funding for necessary infrastructure. The necessary infrastructure includes, but is not limited to the following: the improvements identified in the Master Plan, the proposed services, facilities and improvements set forth in the attached Schedule B, water mains and lines, water storage towers, sanitary sewer mains and lines, storm sewer drainage, retention and detention facilities, new roadways, improvements to existing roadways, bridges, roundabouts, street lighting, traffic signalization, sidewalks, landscaping, signage, and related improvements. The District will utilize various revenues and funding sources including federal, State and local grant opportunities; new revenues resulting from income tax collection within the District; service payments in lieu of taxes pursuant to Ohio Revised Code Sections 5709.40, 5709.41, and 5709.73; and cooperative agreements with other governmental and private entities to finance the necessary public infrastructure improvements. To encourage economic development throughout the XXXX, each of the Contracting Parties must continue to provide necessary infrastructure and community services. Maintenance of and improvements to infrastructure are required for the upkeep of existing systems, while planning for the future requires supporting the development of long-term infrastructure plans and community service needs. The proposed services, facilities and improvements set forth in the attached Schedule B and the tax revenues described in the attached Schedule C (and the expenditure thereof) will have a direct benefit to the businesses within the XXXX boundaries. Schedule A The Kleinger Group Master Plan1 (Attached) 1 The Master Plan assumes that each highlighted parcel is the “first one in,” meaning that it is the first parcel to be developed within the XXXX area and bring infrastructure to serve that site in preparation of additional future development around that parcel. In the event that multiple parcels were to be developed simultaneously, it would alter the costs set forth in the Master Plan. In addition, all costs are estimates as of the date of the Master Plan. The Master Plan was created in cooperation with the adjacent Northern Pickaway County XXXX. As a result, portions of the Master Plan depict proposed improvements in the Northern Pickaway County XXXX area. For purposes of this Economic Development Plan, only those portions of the Master Plan that relate to the Madison Township XXXX area are applicable. Schedule B Schedule for New, Expanded, or Additional Services, Facilities, and Improvements The Contracting Parties support the development of industrial and commercial development in Pickaway County and related development. The XXXX will work with Pickaway County, the State, and the Contracting Parties to facilitate the provision of the following new, expanded, and additional services, facilities, and improvements: Provision of capital improvements and long-term maintenance of roadways, sidewalks, intersections, signage and other public infrastructure within and adjacent to the XXXX boundaries; Provision of capital improvements and long-term maintenance of water systems, sewer systems and other public utility infrastructure, including but not limited to infrastructure related to electric and natural gas, within and adjacent to the XXXX boundaries; Provision of capital improvements and long-term maintenance of fiber and cable, within and adjacent to the XXXX boundaries; Provision of capital improvements and long-term maintenance of any other improvements directly supporting non-residential development within the District or otherwise benefitting the District, including but not limited to land acquisition and acquisition, construction, operation, and maintenance of public infrastructure improvements as approved by the XXXX Board; Provision of traffic management systems and services to allow for efficient and safe flow of vehicular and pedestrian traffic to and from and within the XXXX; and Encouragement of economic development, job creation, and commercial development to create and retain jobs. . Schedule C Schedule for Collection of Income Taxes The Board of the XXXX will xxxx an income tax within the XXXX in accordance with Ohio Revised Code Section 715.72 on all employee wages earned within the XXXX and all net profits of all businesses earned within the XXXX. For each fiscal year during which the XXXX Contract is effective, the Board shall levy the income tax on employee wages earned within the District and on net profits of businesses earned with the District at a rate equal to the rate determined pursuant to Section 10 of the XXXX Contract. The Income Tax Rate was initially established at the rate of two and one half percent (2.5%) in accordance with Section 715.72(F) of the Revised Code. The rate of the income tax shall change from time to time so that it is equal to the rate being levied by the City. The Board may, by resolution, adopt any other changes to the income tax rate, so long as such changes are in compliance with Section 715.72(F) of the Revised Code. The Board may establish procedures by which the income tax levied on employee wages earned within the XXXX is to be collected from employees employed within the XXXX or withheld by businesses located within the XXXX, and the Board shall establish procedures by which the income tax on net profits of businesses earned within the XXXX is to be collected from one or more businesses located within the XXXX. Such procedures may provide for the payment of withholding or estimated taxes by those employees or businesses and the reconciliation of income taxes paid on net profits of businesses between fiscal years. Once collected, the income tax revenue shall be used and distributed by and among the Contracting Parties and the District in accordance with Section 10 of the XXXX Contract. The income tax revenues are to be used by the XXXX, the Village, the Township, and the City to encourage and support the operations of the XXXX or to Village, the Township, or the City for general governmental services, maintaining and improving the infrastructure facilities of the XXXX and the Contracting Parties (including paying debt charges related thereto), providing safety and health services within the XXXX and within the Contracting Parties, providing urban and economic development planning, engineering, counseling, consulting, marketing and financing services for the XXXX and for the Contracting Parties, and generally improving the environment for those working and residing in the XXXX and in the Contracting Parties, and for all other purposes permitted by law.

Economic Development Priorities. The immediate priority of the District is to determine the appropriate infrastructure necessary to support development within the District. In November 2021, the District contracted The Kleingers Group, a civil engineering, survey, and landscape architecture firm headquartered in West Xxxxxxx, Ohio, to develop a master plan for the XXXX area and other development sites near the District, depicted in Schedule A of this Economic Development Plan (the “Master Plan”). The Master Plan contemplates multiple scenarios where the District could proceed with developing the XXXX area by first starting with a single parcel within the XXXX area before proceeding to develop other parcels. The Master Plan identifies the infrastructure that would be necessary to serve each site, while also priming the rest of the XXXX area for optimal development. The District acknowledges that the Master Plan depicts options for development within the District, and that the District may pursue other opportunities that would enhance economic endeavors and bring new jobs to the District as they may arise, provided that such other opportunities shall be generally consistent with the nature and type of capital improvements described herein. In accordance with prior approvals with the District, the District has partnered with, and will continue to partner with certain development projects requiring infrastructure improvements. Moving forward, the District anticipates supporting the development of large- scale industrial and commercial properties within the XXXX area by providing infrastructure, as necessary and appropriate. In the event that such a development opportunity arises, the District may use income tax revenues collected by the XXXX to pay for the costs of infrastructure improvements that support the development. The District anticipates that the infrastructure costs contemplated in the Master Plan and/or the infrastructure costs incurred to support the development of large-scale industrial and commercial properties within the XXXX area will be funded from XXXX revenue and other publicly available sources. The District expects that such funds will become available by December 31, 2026, and that such funds will be used to pay the costs of some portion of the utility infrastructure necessary to serve at least some portion of the District by that same date. The District will likely incur additional infrastructure costs through December 31, 2032. The District will work closely with other local governments, including the Village, the Township, the City, Pickaway County and, other public and private entities as necessary and appropriate, to provide funding for necessary infrastructure. The necessary infrastructure includes, but is not limited to the following: the improvements identified in the Master Plan, the proposed services, facilities and improvements set forth in the attached Schedule B, water mains and lines, water storage towers, sanitary sewer mains and lines, storm sewer drainage, retention and detention facilities, new roadways, improvements to existing roadways, bridges, roundabouts, street lighting, traffic signalization, sidewalks, landscaping, signage, and related improvements. The District will utilize various revenues and funding sources including federal, State and local grant opportunities; new revenues resulting from income tax collection within the District; service payments in lieu of taxes pursuant to Ohio Revised Code Sections 5709.40, 5709.41, and 5709.73; and cooperative agreements with other governmental and private entities to finance the necessary public infrastructure improvements. To encourage economic development throughout the XXXX, each of the Contracting Parties must continue to provide necessary infrastructure and community services. Maintenance of and improvements to infrastructure are required for the upkeep of existing systems, while planning for the future requires supporting the development of long-term infrastructure plans and community service needs. The proposed services, facilities and improvements set forth in the attached Schedule B and the tax revenues described in the attached Schedule C (and the expenditure thereof) will have a direct benefit to the businesses within the XXXX boundaries. Schedule A The Kleinger Group Master Plan1 (Attached) 1 The Master Plan assumes that each highlighted parcel is the “first one in,” meaning that it is the first parcel to be developed within the XXXX area and bring infrastructure to serve that site in preparation of additional future development around that parcel. In the event that multiple parcels were to be developed simultaneously, it would alter the costs set forth in the Master Plan. In addition, all costs are estimates as of the date of the Master Plan. The Master Plan was created in cooperation with the adjacent Northern Pickaway County XXXX. As a result, portions of the Master Plan depict proposed improvements in the Northern Pickaway County XXXX area. For purposes of this Economic Development Plan, only those portions of the Master Plan that relate to the Madison Township XXXX area are applicable. Schedule B Schedule for New, Expanded, or Additional Services, Facilities, and Improvements The Contracting Parties support the development of industrial and commercial development in Pickaway County and related development. The XXXX will work with Pickaway County, the State, and the Contracting Parties to facilitate the provision of the following new, expanded, and additional services, facilities, and improvements: Provision of capital improvements and long-term maintenance of roadways, sidewalks, intersections, signage and other public infrastructure within and adjacent to the XXXX boundaries; Provision of capital improvements and long-term maintenance of water systems, sewer systems and other public utility infrastructure, including but not limited to infrastructure related to electric and natural gas, within and adjacent to the XXXX boundaries; Provision of capital improvements and long-term maintenance of fiber and cable, within and adjacent to the XXXX boundaries; Provision of capital improvements and long-term maintenance of any other improvements directly supporting non-residential development within the District or otherwise benefitting the District, including but not limited to land acquisition and acquisition, construction, operation, and maintenance of public infrastructure improvements as approved by the XXXX Board; Provision of traffic management systems and services to allow for efficient and safe flow of vehicular and pedestrian traffic to and from and within the XXXX; and Encouragement of economic development, job creation, and commercial development to create and retain jobs. . Schedule C Schedule for Collection of Income Taxes The Board of the XXXX will xxxx an income tax within the XXXX in accordance with Ohio Revised Code Section 715.72 on all employee wages earned within the XXXX and all net profits of all businesses earned within the XXXX. For each fiscal year during which the XXXX Contract is effective, the Board shall levy the income tax on employee wages earned within the District and on net profits of businesses earned with the District at a rate equal to the rate determined pursuant to Section 10 of the XXXX Contract. The Income Tax Rate was initially established at the rate of two percent (2.0%), and is currently established at the rate of two and one half percent (2.5%) in accordance with Section 715.72(F) of the Revised Code. The rate of the income tax shall change from time to time so that it is equal to the rate being levied by the City. The Board may, by resolution, adopt any other changes to the income tax rate, so long as such changes are in compliance with Section 715.72(F) of the Revised Code. The Board may establish procedures by which the income tax levied on employee wages earned within the XXXX is to be collected from employees employed within the XXXX or withheld by businesses located within the XXXX, and the Board shall establish procedures by which the income tax on net profits of businesses earned within the XXXX is to be collected from one or more businesses located within the XXXX. Such procedures may provide for the payment of withholding or estimated taxes by those employees or businesses and the reconciliation of income taxes paid on net profits of businesses between fiscal years. Once collected, the income tax revenue shall be used and distributed by and among the Contracting Parties and the District in accordance with Section 10 of the XXXX Contract. The income tax revenues are to be used by the XXXX, the Village, the Township, and the City to encourage and support the operations of the XXXX or to Village, the Township, or the City for general governmental services, maintaining and improving the infrastructure facilities of the XXXX and the Contracting Parties (including paying debt charges related thereto), providing safety and health services within the XXXX and within the Contracting Parties, providing urban and economic development planning, engineering, counseling, consulting, marketing and financing services for the XXXX and for the Contracting Parties, and generally improving the environment for those working and residing in the XXXX and in the Contracting Parties, and for all other purposes permitted by law.