Wooster is establishing the “South Market Street TIF” to help fund a proposed 1,750,000 streetscape construction project along South Market Street between Public Square and Mulberry Street, planned for 2027. The TIF will capture up to an estimated 506,000 in tax increment over ten years, largely driven by Apple Creek Banking Company’s new headquarters project, and dedicate those funds to expanded streetscape and related public infrastructure improvements. Exhibit B outlines a wide scope of eligible infrastructure: roadway reconstruction, sidewalks, bikeways, parking, utilities (water, sewer, stormwater, gas, electric, communications), environmental work, streetscape/landscape features, signage, lighting, and professional services.Final design, assessment levels, and construction contracts have not yet been awarded; Council will set a not‑to‑exceed assessment amount later, and bidding will occur closer to construction. This creates an upcoming opportunity for engineering, landscape architecture, construction, urban design, and streetscape product vendors to shape and deliver a prominent downtown corridor project.

TIF fund is expected to cover about 33% of project costs and reduce property-owner assessments by roughly $73.75 per foot, with final figures pending design.