City of Mount Vernon AgendaPacket Legislative Session 2026-06-22
City proposes TIF agreement with Residences at Founders Grove
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Description
Mount Vernon is considering Ordinance 2026-23 to approve a Tax Increment Financing and Development Agreement with Residences at Founders Grove, LLC for a multi-building residential project at 12050 Upper Gilchrist Road. The agreement would govern 30 years of service payments under an existing 100% TIF exemption to fund schools, public improvements, and city purposes.
Contract Details
Vendor
RESIDENCES AT FOUNDERS GROVE LLC
Agency
City of Mount Vernon, OH
Contract Type
FINANCIAL_SERVICES
Document Date
June 22, 2026
Contract Term
30-year TIF exemption per Ordinance 2024-37
Renewal Info
TIF period authorized for 30 years under Ordinance 2024-37; future amendments would follow TIF agreement terms and statutory requirements.
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