Concord Township Considers New Financing Method for Infrastructure Improvements

Concord Township trustees will consider designating two future housing projects as residential incentive districts, a change that township trustee Andy Rose said would provide funding for infrastructure projects without changing tax payments.

The proposed neighborhoods would be located in the township’s Villas at Canterwood and Ivy Ridge subdivisions.

Under the RID resolutions, 75% of the taxes that would normally be levied on the increased value of properties over the next 10 years would be paid into the municipality’s RID fund. The remaining 25%, plus all taxes on existing property values ​​at the time the resolutions were adopted, would be paid to traditional taxing entities.

Rose said those entities include local school districts, the Auburn Career Center, Lakeland Community College and county funds.

“It doesn’t change taxes, it just reallocates some of the taxes, which gives Concord Township more money on the improved value,” he said.

Rose said the RID for Canterwood Villas could bring in $1.9 million to $2.3 million over 10 years, while the RID for Ivy Ridge could bring in $4 million to $4.5 million.

“That’s our rough estimate, based on how home values ​​go,” he added.

The RID resolutions state the funds could be used for construction of Fire Station 2, infrastructure such as water and fire protection systems and fire trucks, infrastructure improvements to township parks and an addition to Town Hall.

The Canterwood Villas RID bill would apply to a cluster of properties located off Canterwood Trail and other streets in that development. The Ivy Ridge RID bill would apply to homes coming to land currently owned by Quail Developers, north of the end of Orchard Road.

The RIDs would include properties in the Mentor and Riverside school districts.

Public hearings on the proposals will be held at 6:15 p.m. July 3 at Concord Town Hall, 7229 Ravenna Road. The township board will then consider the RID resolutions at its regular meeting at 7:30 p.m.

Under state law, the township was required to notify all affected property owners thirty days before the hearing.