Dover city officials are changing a tax incentive agreement with a housing developer while also creating a new board to review future requests.
Dover Mayor Shane Gunnoe says a TIF – or Tax Increment Financing Agreement – with Lawver Homes will pay for 50 to 60 percent of the costs for installing water, sewer and new roads at the proposed 80-unit subdivision in the city’s north side. The developer covers the rest.
An amendment approved Monday assures the TIF funds won’t be used for demolition, parks and other cosmetic items.
“The TIF is intended to fund four things – public water services, public sewer services, road and curb improvements, and storm water.”
Meanwhile, the city is creating a new tax incentive review council with representatives from the city, county and local schools.
“It will be reviewing all tax incentives that are extended from the city of Dover to ensure we’re conducting proper oversight.”
A recent study shows the Dover-New Philadelphia area needs 400 new houses and 600 new rental properties.
Gunnoe adds Lawver Homes’ other development – Crimson Cove – is already 80 percent sold and expected to be completed by the end of the year, beating expectations by about two years.
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