Do citizens have a say in what happens in their community? To their tax dollars?
Cleveland Heights City Council has asked the Board of Education to approve an 11yr 80% tax abatement to a developer to build on Meadowbrook-Lee.
Cleveland Heights City Council plans to further subsidize this plan by GIVING the developer the acre of land to build on. Land that taxpayers spent $1 million to purchase, demolish buildings and remediate.
On July 17 Orlean Company made a presentation to the Board of Education, asking for this tax abatement. I have attached the presentation.
I have also extracted page 23 from the Orlean document that shows, with their own numbers, that they do not need the abatement to make the project work.
As you can see, the developer showed a positive cash flow of $41,000 in the first year, WITHOUT a tax abatement.
This $41,000 is left after they pay:
- Debt service.
- Reserve fund (money put away for a rainy day).
- The entire unabated tax bill.
They have demonstrated no need for any abatement of any size.
Or for "donated land".
Do citizens have a say in this proposed transfer of public funds and property to a private entity?
We need a community forum on this issue so that this decision is made after all the facts have been presented and we have had an opportunity to talk about this together.
Do citizens have a say in what happens to their community?
P.S. If you want the Board of Education to know how you feel, you can contact them with the information provided here.