Nearly $85M West Carrollton river district project could be “catalytic”

West Carrollton City Council recently “unanimously approved a development services agreement with Woodard Development and Dillin LLC” for a “potentially catalytic” $84.8 million project to create a river district on city-owned land adjacent to the Great Miami River, the Dayton Business Journal reports. Per the agreement, the developers “will formulate a master plan for the new mixed-use development” that will include “a whitewater park, housing, medical and office facilities, a hotel and retail/restaurants,” according to the article. An existing Tax Increment Financing (TIF) district will finance the city’s development cost. The project is expected to generate $2.5 million in new real estate taxes, $319,000 in payroll taxes, $478,000 in sales taxes and $160,000 from a new community authority annually. For more, read the full article (subscription may be required). 

Economic Development, Financial Incentives, State Updates