FINANCIAL_SERVICESPENDING

City of Middleburg Heights Council Agenda Packet 2026-06-23

TIF Agreement Planned For Southland South Redevelopment

City of Middleburg HeightsSOUTHLAND CENTER OF SMITH RD LLCJune 23, 2026

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Description

Middleburg Heights plans to enter into a tax increment financing arrangement with Southland Center of Smith Rd LLC to support renovation and outparcel development at Southland South. The City will briefly acquire and reconvey title, waive competitive bidding for the transfer, and grant a 100% property tax exemption on improvements for up to 30 years in exchange for service payments in lieu of taxes.

Contract Details

Vendor

SOUTHLAND CENTER OF SMITH RD 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.

Issuing Agency