By DENISE GRANT
A $2 million debt, used to finance the expansion and renovation of the Findlay-Hancock County Public Library, has been paid in full.
The commissioners signed the deed to the building over to the library’s board on Tuesday.
In 1988, the commissioners agreed to sell bonds to finance the improvements, after the library board’s attempt to pass a $3 million bond issue was defeated in May 1988.
The $3.8 million project expanded the building south at its 206 Broadway location.
Separately, the commissioners agreed to a lower sewer tap-in fees for five residential properties bordering the new Distribution Drive industrial park down to $1,000.
Commissioner Phillip Riegle said the Hancock County Health Department will require the homes to tap into the new sewer line constructed for the industrial park. Typically, tap fees for residential units are $5,500 each, but Riegle said construction of the sewer line has already be paid for through the tax increment financing plan for the park.
A tax increment financing plan allows additional real estate tax revenue, created by new development in a specific area, to be diverted from public entities like schools and townships, and used to finance infrastructure improvements.
The commissioners agreed to finance infrastructure for Findlay’s new Ohio Logistics Business Park through a tax increment financing plan. It is expected to take 10 years to pay off the nearly $2 million in debt.
Ohio Logistics, at 12560 Distribution Drive, built a 125,000-square-foot addition on the north side of its warehouse, and a 130,000-square-foot warehouse to the east of its building. The expansion is expected to create 35 to 45 jobs, with the company to begin occupying the new warehouses this month.
The 47-acre industrial park is north of Hancock County 99 and east of Ball Metal and the CSX railroad tracks.
“We decided that since the bill is already paid to (lower) the tap fee for these homes, just to be fair to these homeowners. This is a unique situation. We’ve never had this before,” Riegle said.