Hermitage School Board will meet at 5 p.m. Thursday to reconsider its vote on the tax incremental financing plan proposed for the building of a retail development anchored by a Kohl’s department store, said school board President Laurie Ann Biblis.
The board rejected the plan May 21 in a 6-3 vote and will vote on “basically the same plan” with “a few alterations,” she said Wednesday.
She declined to disclose the alterations – she said she did not want her words to be “twisted” prior to the vote – and later said the plan itself is unchanged.
There has been talk that the school board might get up-front money from Levey or that there is some other side agreement between Levey and the district, but Biblis said she couldn’t comment on that.
“You’ll just have to show up at 5 o’clock and see,” she said.
Levey proposed the TIF plan, in which each taxing body would defer 69 percent of new property tax money generated by the development for 20 years, with the deferred money going to pay off a bond issue to provide up-front money for construction.
For more details, see Thursday's Herald.