Sylvania Township trustees have named three people to be directors of the Joint Economic Development District recently approved for the area known generally as Oakleaf Village, 4220 Holland-Sylvania Rd,
Named to a two-year term is Kim Wood, program director of an under-construction unit known as Crescent on the Oakleaf campus. Oliver Turner, the administrator of Sylvania Township, has been named to a three-year term,and Loren Sengstock, a township resident and retired as a long-time government fiscal officer was appointed to a four-year term.
The JEDD is the first such agreement between the township and the City of Sylvania. The city has yet to name their board member. Once the board has its four members they will name a chairman.
The board of directors will be responsible for necessary maintenance within the JEDD and for tax matters.
When issues are finalized, those within the JEDD will become subject to a municipal income tax of 1.5 percent, which is the rate of the City of Sylvania.
An official of Wallick Communities, the owner of Oakleaf, said the company intends for their employees to not see a reduction in their net income.
After deductions for a maintenance fund and some administrative charges, the township and city will share the tax revenue equally. Mr. Turner said the township share should be between $15,000 and $19,000.
Written by: Mike Jones, Public Information Officer
Posted: August 14, 2020
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