An enterprise zone agreement ordinance was introduced to Bellefontaine Council Monday.
The enterprise zone agreement would be with AcuSport Corporation. AcuSport will begin expanding its Bellefontaine facility in the spring and will be creating 80 new jobs over the next two years. The agreement would allow for a property tax abatement of about 75 percent for ten years.
Mayor Adam Brannon comments on the AcuSport.
Two ordinances were adopted on third readings. The ordinances formed two Tax Increment Financing (TIF) Districts in Bellefontaine. The two districts were formed in the main street area (from Lake Avenue north to Northview Drive) and on the east side (from the Hilliker YMCA north toward State Route 47). The ordinances established a fund for economic development in those areas.
A couple ordinances were adopted on second readings. The first ordinance adopted investment, debt, and credit card policies for the city. This will allow for that information to be put on paper and be used as a resource in the future. The second ordinance pays the city's portion of compensation for the municipal court judge, prosecutor, and prosecutor’s secretary/paralegal. The city's portion of the payment is $37,000.
Finance Committee Chair Mark Fissel discusses the districts and the new policies.
Bellefontaine City Council will meet again on January 8th at 7:30 pm.
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Watch AcuSport CEO Bill Fraim speak to council.