FINANCIAL_SERVICESAPPROVED

Delaware-Defiance Joint Economic Development District Contract April 2026

JEDD pledges income tax revenue to repay County costs

JEDD Revenue Contribution equal to 80% of net JEDD income tax revenues, limited to sum of non‑forgiven AOFF Loan debt service, $1,500,000 County Contribution, and any Company Overruns ContributionsTown of DefianceBOARD OF DIRECTORS OF THE DELAWARE-DEFIANCE JOINT ECONOMIC DEVELOPMENT DISTRICT IApril 6, 2026

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Description

Defiance County and the Board of Directors of the Delaware‑Defiance JEDD I executed a Funding Agreement under which the JEDD pledges 80% of its net income tax revenues to reimburse the County’s $1.5 million contribution, repay non‑forgiven AOFF loan amounts, and cover any project cost overruns. The pledged revenues secure the County’s public infrastructure obligations for the First Quality Tissue Midwest project.

Contract Details

Contract Amount

JEDD Revenue Contribution equal to 80% of net JEDD income tax revenues, limited to sum of non‑forgiven AOFF Loan debt service, $1,500,000 County Contribution, and any Company Overruns Contributions

Vendor

BOARD OF DIRECTORS OF THE DELAWARE-DEFIANCE JOINT ECONOMIC DEVELOPMENT DISTRICT I

Agency

Town of Defiance, OH

Contract Type

FINANCIAL_SERVICES

Document Date

April 6, 2026

Contract Term

From Effective Date in 2026 until full reimbursement of County Contribution, repayment or forgiveness of AOFF Funding, and reimbursement of any Company Overruns Contributions; Agreement term stated from 2026 to a future year during which obligations are outstanding

Renewal Info

Agreement remains in force until public infrastructure obligations are fully repaid or forgiven; may terminate earlier only once County Contribution and AOFF Loan are satisfied and any Company Overruns Contributions reimbursed.

Issuing Agency