City of Middleburg Heights Council Agenda Packet 2026-06-23
City Plans TIF Agreement For Southland Shopping Plaza
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Description
Middleburg Heights intends to execute a tax increment financing agreement with PMAT Southland, L.L.C. to facilitate redevelopment of the Southland Shopping Plaza. The City will briefly hold and reconvey title, waive competitive bidding for the transfer, and provide a 100% tax exemption on increased value for up to 30 years in return for service payments in lieu of taxes.
Contract Details
Vendor
PMAT SOUTHLAND LLC
Agency
City of Middleburg Heights, OH
Contract Type
FINANCIAL_SERVICES
Document Date
June 23, 2026
Contract Term
Up to 30 years from first tax year improvement is on tax roll
Renewal Info
TIF exemption on improvements runs for up to 30 years from the first tax year in which the improvement appears on the tax list, or until the City can no longer require service payments.
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