North Baltimore considers JEDD during special meeting

The Village of North Baltimore recently held a public hearing to consider approval of a Joint Economic Development District (JEDD) agreement with Henry Township, reports. The agreement “would allow for imposition and collection of an income tax at the North Pointe Development site,” with Henry Township receiving 60% of the revenue collected from the construction phase and beyond, and North Baltimore receiving 30%. A JEDD board, made up of township and village representatives plus legal counsel, would receive 10%. North Baltimore Village Finance Officer Tony Swartz said the village could receive “around $50,000 for the first year alone” if the deal is approved, with revenue going up as construction increases. For more, read the full article.

Economic Development, State Updates