City of Mount Vernon AgendaPacket Legislative Session 2026-06-08
City advancing TIF deal with Founders Grove developer
Trusted by teams at
Description
The City of Mount Vernon plans to enter into a Tax Increment Financing and Development Agreement with Residences at Founders Grove, LLC for a large residential project at 12050 Upper Gilchrist Road. The agreement will exempt improvements from property tax for 30 years while directing service payments to reimburse up to $1.6 million in public infrastructure and support city and school funding.
Contract Details
Vendor
RESIDENCES AT FOUNDERS GROVE LLC
Agency
City of Mount Vernon, OH
Contract Type
FINANCIAL_SERVICES
Document Date
June 8, 2026
Contract Term
30-year TIF exemption period for improvements beginning with first qualifying tax year after September 9, 2024
Renewal Info
TIF exemption runs for 30 years per parcel; reimbursement of developer public improvements is capped at $1,600,000 under the agreement.
More from RESIDENCES AT FOUNDERS GROVE LLC
Related Contracts
City of Mount Vernon AgendaPacket Legislative Session 2026-06-22
PENDINGCity of Mount Vernon AgendaPacket Legislative Session 2026-06-22
PENDINGCity of Mount Vernon City Council Legislative Session Agenda 2026-06-22
PENDINGCity of Mount Vernon AgendaPacket Legislative Session 2026-06-08
PENDINGCity of Mount Vernon AgendaPacket Legislative Session 2026-06-08
PENDINGMore from City of Mount Vernon
City of Mount Vernon City Council Legislative Session Agenda 2026-06-22
City of Mount Vernon City Council Legislative Session Agenda 2026-06-22
City of Mount Vernon City Council Legislative Session Agenda 2026-06-22
City of Mount Vernon AgendaPacket Legislative Session 2026-06-22
City of Mount Vernon AgendaPacket Legislative Session 2026-06-22
Want to learn more?
Get alerts on contract renewals, new awards, and vendor activity.
Bring us your territory.
We'll show you what is forming.
See live SLED buying signals, source docs, decision-makers, contract context, and the next step into your CRM or pipeline.