MEETING NOTICE  The City of Troy Tax Incentive Review Council Annual Meeting will be held Thursday, March 9, 2023 at 10:00 A.M. in the Second Story Conference Room in City Hall, 100 South Market  Street, Troy, Ohio.  AGENDA  Call to Order Roll Call:  Amber Murray, Chairperson Ron Musilli, Vice-Chairperson Anthony Fraley, Treasurer, UVCC JeffPrice, Treasurer, Troy City Schools  Kim Harvey Ted Ristoff Jordan Romberger Howard Wingert  Election ofVice Chairperson in accordance with Article VIofthel By-Laws (Note: Chairperson is set by Ohio Statute as County. Auditor's: representative) Acceptance ofi minutes oft the March 29, 2022. Annual Meeting Review and recommendation ofTroy Towne Park TIF Review and recommendation of active Enterprise Zone Agreements  Other Adjourn    TAX: INCENTIVE REVIEW COUNCIL ANNUAL MEETING  MINUTES OF MARCH 29, 2022  The annual meeting of the Tax Incentive Review Council (TIRC) was convened on March 29, 2022 at 10:00 A.M. by Amber Murray roll being called. Those in attendance were Amber Murray of the Miami County Auditor's office; Jeff Price representing the Troy City Schools, Anthony Fraley representing Upper Valley Career Center, Kim Harvey, Jordan Romberger and Matthew Post. Members Ted Ristoff and Ron Musilli were not present. City staff members, Tim Davis and Nikki According to the Ohio Revised Code, the chair of any local TIRC must be the county auditor or his designee. Therefore, Amber Murray automatically became the Chairperson, without election. In accordance with Article VI of the By-Laws (Election of Officers), a motion was made by Fraley and seconded by Harvey to elect Ron Musilli as Vice-Chair. Mr. Musilli was unable to attend today's meeting; however, he verbally said he still would be willing to serve as Vice-Chairman for another  Reese, with the' Troy Development Department was also present.  term should hel be elected.  Motion carried 6-0  A motion was made by Price and seconded by Fraley to approve the minutes of the March 3, 2021  annual meeting.  Motion carried 6-0  Davis provided a summary of the Troy Towne Park Drive Tax Increment Financing (TIF) District, with it being the eighteenth annual review. In calendar year 2021, the city received $633,633 ofTIF payments. This meant the city was able to make 2021's bond payments of $134,000 from the TIF Current Miami County Auditor records indicate the TIF property improvement valuations rose from zero at the start of the TIF in 2003 to $35,108,400 in last year's review. In 2021 TIF valuations The majority of TIF values remained the same in 2021, with the exception of the new Home2 Suites Marriott hotel which completed construction in 2021 and a slight decrease was shown to Comfort Inn Davis recommended the TIF Fund be continued in 2022. A motion was made by Price, seconded by  proceeds, and not from the General Fund.  increased by $4,095,400 for at total of$39,203,800.  & Suites.  Romberger to recommend continuation of the' TIF Fund.  Motion carried 6-0  Davis next summarized the Enterprise Zone (EZ) Program. Because of changes the Ohio Legislature made to the Tax Code in 2005, especially the reduction to zero percent for the tangible personal property tax on industrial equipment and machinery, Troy has far fewer active Enterprise Zone Agreements than in the past. As an incentive to retooling an existing plant, EZAs are now totally ineffective. For a major real estate improvement project such as ai new building or major addition, the Enterprise Zone program sill can provide an incentive for a company to locate or expand in Troy. Companies remained in the program for the same reason: major building investment that would greatly increase their real estate property taxes above their existing taxes. Existing real estate taxes are  not eligible for abatement through the EZ program.    Davis reported on each of the company agreements, reviewing both the investment and job creation goals. The associated job creation goal for Arc Abrasives, Inc.is to increase from 92 full-time employees to 107 within 3 years of completion oft the project. During the initial 3-year period, data was reported annually and the EZA was recertified as the investment goal was met. Employment had continuously increased from 92 (in 2015) to 103 (as of December 31, 2019). Arc Abrasive's employment was close to meeting the hiring goals when COVID-19 hit and suppliers reduced/canceled orders forcing Arc Abrasives to reduce staffing. In 2020, Arc Abrasives reported employment at 72 employees. AsofDecember. 31, 2021, Arc. Abrasives reports numbers at 83 employees. Given the fact that Arc Abrasives is currently posting 15 open positions, and as the economy: recovers from COVID- 19, Davis expects that the employment numbers will return to the pre-COVID condition. Clopay Building Products rapidly exceeded their job creation goal of1,123 positions and currently reports an employment count of 1,757. ConAgra Foods Packaged Foods, LLC has 3 EZA agreements and has met all their employment number requirements. As of December 31, 2021, the company reports 977 positions, which exceeds the required fifty (50) new employment requirements of their most recent EZA agreement (2019). Davis recommended the TIRC make a recommendation to City Council for  the continuance ofthe following five company agreements:  EZA#33 ConAgra Foods Packaged Foods, LLC (2010. Agreement) EZA; #34 ConAgra Foods Packaged Foods, LLC (2012 Agreement) EZA#35 Clopay Building Products (2015 Agreement) EZA# #36 Arc Abrasives, Inc. (2015. Agreement) EZA# #37 ConAgra Foods Packaged Foods, LLC (2019 Agreement)  Fraley made a motion to recommend to City Council the continuation of the five active agreements.  Harvey seconded the motion.  Motion carried 6-0  With no further business to come before the TIRC, on a motion from Price, seconded by Harvey, with  unanimous approval, the meeting was adjourned at 10:15. A.M.  Amber A. Murray, Chairperson  Tim Davis, Secretary  2        TROY DEVELOPMINT DEPARTMENT  DEVELOPMENT DEPARTMENT  100 S. MARKET ST. 937-339-9481  TO: FROM: DATE: SUBJECT:  Tax Incentive Review Council (TIRC) Tim Davis, Development Director  March 9, 2023 Troy Towne Park TIF  The Tax Incentive Review Council (TIRC) is charged with reviewing annually any Tax Increment Financing (TIF) agreement and making a recommendation for continuation, modification, or cancellation oft the agreement. City Council then votes on the recommendation provided by the TIRC. As provided in state laws, the TIF program provides financing for public improvements by allocating part of the future property tax payments to pay off the bond financing. The first payments from the Towne Park Drive TIF go to the Troy Schools (approx. 23.54%), with the balance going towards bond payments and other expenses. Although the bond payments could extend for up to 30 years, it's This is the nineteenth annual review of the Troy Towne Park TIF. In the first two years, there were significant expenses for public infrastructure construction, but no collection of TIF payments. The authorizing legislation anticipated this, and allowed for the first two years of interest payments to be paid from the bond proceeds. In calendar year 2022, the city received $608,198 ofTIF payments. This meant the city was able to make 2022's bond payments of$129,300 from the TIF proceeds, and not from the General Fund. There also was sufficient revenue for certain allowable auditor expenses and Current Miami County Auditor records indicate the TIF property improvement valuations rose from zero at the start oft the TIF in 2003 to $39,203,800 in last year's review. In 2022 TIF valuations increased The majority ofTIF values remained the same in 2022, with the exception of the new Texas Roadhouse which completed construction in 2022 and a slight decrease was shown to Harson Investments LTD The total annual collected TIF payments are still paying off the bond-financed road improvements as planned. The new businesses there have also generated significant sales taxes for Miami County and city Irecommend that the TIRC recommend to the City Council that the TIF be continued in 2023.  anticipated that the bond will be paid offbefore then.  engineering design fees.  by $1,006,300: for ai total of$40,210,100 (a percentage increase of2.6%).  (Parcel # D08-056328).  income taxes for Troy.    TIF PARTICIPANTS - 2022 DATA  Map Lot Letter A Buffalo Pacific LLC B-0 CFM Land Investment LLC B-1 B-2 B-3 CFMI Land Investment LLC C-0 Park Corner North LLC C-1 C-2 C-3 C-4  TIF Market Value Total $941,300 1.715 $106,400 1.060 $580,600 1.290  ADDRESS LOCATION 1141 Experiment Farm RBuffalo Pacific Towne Park Dr 1187 Experiment Farm R Frickers 1187 AE Experiment Farm Cold Stone Creamery Experiment Farm Rd 1201 Towne Park Dr Park Corner North: 1201 A Towne Park Dr Winan's Chocolates and Coffees 1201 CT Towne Parkl Dr Jay & Mary's Book Center 1201 FTowne Park Dr Novacare Group 1201 G Towne Park Dr Cassanos Pizza & Subs 1861 Towne Park Dr Office Building 1: 1861 Towne Park Dr Common Area of Condo 1861 "C" Towne Park Dr. Retina Physicians & Surgeons 1861 "H" Towne Park Dr Southewest Ohio ENT Specialists & D08-105698 1855 Towne Park Dr Vacant Lot 1855 Towne Park Dr Office Building: 2: 1855 A1 Towne Park Dr MAK Dental 1855 B Towne Park Dr Prime Lending  OWNER  Business Occupant(s) Park Corner South: Vacant Lot  PARCEL# (land+imp.) Acres D08-104610 $1,103,200 2.219  D08-105686 D08-105688 D08-104614  Da-0 Towne Park Office Condos LLC Da-1 Towne Park Office Condos LLC Da-2 CaSManagement Group! LLC Da-3 C& SI Management Groupl LLC Da-4 Retina North LLC Da-5 Pleasant View Properties Db-0 Harson Investments Ltd Dc-0 G&I NE Baldwal Investments Inc F-0 Harju Properties LLC F-1 Harson Investments Ltd G-J Harson Investments Ltd L ANRI Marine LLC M SEVA At Towne Park LLC N National Retail Properties LP O National Retail Properties LP P-0 Grote Properties LLC  D08-105312" D08-105313" D08-105700 D08-105800 $314,300 D08-105798 D08-105314 D08-105212 D08-251096  $0 $0 $374,700 $313,000 $295,300 $30,300 0.882 $624,600 0.812 $0 $530,300 0.500  4.063 1.492  1861 Towne Park Dr 1861 Towne Park Dr  Procare Vision Procare Vision  Dc-1 Dc-2  E Council on Rurual Service Programs Inc. 1849 Towne Park Dr Kids Learning Place  2.000  18451 Towne Park Dr Towne Park Dentistry- Harju DDS D08-105708 1825 Towne Park Dr (Many vacant! lots in one parcel) 1809 Towne Park Dr Texas Roadhouse 1805 Towne Park Dr Home2 Suites 1801 Towne Park Dr Outback Steakhouse 7995 Towne Park Dr Harbor Freight Tools 1731-1743 W Main St Troy Towne Place:  Towne Park Dr  Vacant Lot Texas Roadhouse Parking Lot  D08-105710 $234,000 1.500 D08-056328 $458,900 9.056 D08-106890 $536,600 2.048 DO8-106888 $1,623,100 2.354 D08-106568 $5,150,500 2.400  K Texas Roadhouse Holdings LLC Towne Park Dr  D08-105062 D08-102146 D08-102142  $835,200 1.495 $734,600 3.016 $917,900 1.843  P-1 P-2 P-3 P-4 P-5 P-6 Q Edward CH Kelsey Jr S UKPLLC T Troy Care 20151 LLC U Palmik Realty! LLC U U U U  1731 W Main St 1733) WI Main St 1735 WI Main St 1737 WI Main St 1741 W Main St 1743 WI Main St 1775 WI Main St 1800 Towne Park Dr Comfort Inn & Suites 18401 Townel Park Dr Story Point 1801 WI Main St  Jojo Vapes Smile Massage Spa Fulll Life Chiropractic Watson's Maxliving Health Center J's Cuisine Skyline Chili (pre-existing) Shell Oil Co (pre-existing) Wal-Mart: (employees exempt). Tax Division Real Estate Division  D08-102138 D08-057971 D08-101060 D08-102149  $50,600 1.450 $247,100 0.689 $122,600 4.456 $65,300 2.372 $9,700 0.354 $40,210,100 80  R Harson Investments Ltd clo Shell Oil C1 1789 WI Main St  D08-102148 $2,489,100 1.918 D08-056329 $17,140,100 14.577 D08-101061 $4,263,800 10.112 D08-101066 $117,000 4.253  Store Manager-Greg Foster/Ken Wisong D08-056331  3/8/2023        TROY DEVBLOPMENT DEPARTMENT  DEVELOPMENT DEPARTMENT  100 S. MARKET: ST. 937-339-9481  TO: FROM: DATE: SUBJECT:  Tax Incentive Review Council (TIRC) Tim Davis, Development Director  March 9, 2023 Enterprise Zone Reviews  The annual Tax Incentive Review Council (TIRC) meeting to review the December 31, 2021 status of each active Enterprise Zone Agreement (EZA) is scheduled for 10:00A.M. on Thursday, March 9, 2023 in the second-floor conference room ofTroy City Hall, 100 South Market Street. As always, this will be  aj public meeting that can be attended by any interested members oft the public.  Ohio Revised Code Section 5709.85(C)(1): states:  "Annually, the TIRC shall review all agreements granting exemptions from property taxation under Chapter 725, or 1728, or under section 3735.671, 5709.62, 5709.63, or 5709.632 ofthe revised code, and any performance or audit reports required to be submitted pursuant to those agreements. With respect to each agreement, the council shall determine whether the owner of the exempted property has complied with the agreement, taking into consideration any. fluctuations in the business cycle unique to the owner 's business, and, on the basis ofsuch determinations, submit to the legislative authority written recommendations for continuation, modification, or The TIRC typically reviews each agreement, then discusses its options and makes ai recommendation to the City Council before adjournment. This is necessary SO the report and recommendation can be forwarded to the City Council for review by the appropriate Council Committee. The final decision of Council then can be considered at a regular City Council meeting. The reports will be provided to the Because of changes the Ohio Legislature made to the Tax Code in 2005, especially the: reduction to zero percent for the tangible personal property tax on industrial equipment and machinery, Troy has far fewer active Enterprise Zone Agreements than in the past. As an incentive to retooling an existing plant, EZAs are now totally ineffective. For a major real estate improvement project such as a new building or major addition, the Enterprise Zone program still can provide an incentive for a company to locate or expand in Troy. Companies remained in the program for the same reason: major building investment that would greatly increase their real estate property taxes above their existing taxes. Existing real estate The December 31, 2021 status of active agreements and my recommendations to the TIRC are as  cancellation of the agreement. "  Ohio Development Services Agency.  taxes are: not eligible for abatement through the EZ program.  follows:  Arc. Abrasives, Inc. - EZ#36 (2015 agreement)  This is a 2015 EZ agreement for construction of a 66,000 square feet manufacturing plant located at 2131 Corporate Drive. The Corporate Drive location combined operations from Arc Abrasives former    Plant 1 (85 Marybill Drive) and former Plant 2 (55 Marybill Drive). The Corporate Drive building also accommodated more production equipment for a new line of industrial grinding/polishing supplies the company has developed, which is being marketed under the "Predator" brand name. The overall investment of $4,800,000 included $3,000,000 for the new building and a minimum of $1,800,000 of new machinery and equipment. The associated job creation goal is to increase from 92 full-time employees to 107 within 3 years of completion of the project. During the initial 3-year period, data was reported annually and the EZA was recertified as the investment goal was met. Employment had continuously increased from 92 (in 2015) to 103 (as of December 31, 2019). Arc Abrasive's employment was close to meeting the hiring goals when COVID-19 hit and suppliers reduced/canceled orders forcing Arc Abrasives to reduce staffing. In 2020, Arc Abrasives reported employment at 72 employees. As of December 31, 2021, Arc Abrasives reports numbers at 83 employees. As of December 31, 2022, Arc Abrasives reported employment at 92 employees. As the economy recovers from COVID-19, Arc Abrasives have increased their employment numbers the past three years; however, they have failed to comply with the requirements agreed upon in 2015 and have now just reached the original employee count. I recommend the TIRC recommend continuation of the agreement; however, if the company does not meet compliance by years end, termination of the  agreement will likely be recommended in 2024.  Clopay Building Products Company, Inc. - EZ#35 (2015 agreement)  This is a 2015 EZ agreement for a further 200,000 square feet addition to Clopay's Troy plant. This expansion anticipated new investments totaling $30,000,000, including $16,800,000 of real estate improvements and $13,200,000 of new machinery, equipment, furniture, fixtures, and new inventory. The project investment has been completed by the December 31, 2019 deadline as outlined in the agreement. The associated job creation goal is retention of918 full-time equivalent job opportunities at the Troy plant and creation of 205 more within 4 years of the completion of the real property improvement portion of the project. The company rapidly exceeded the job creation goal of 1,123 positions. However, the company currently reports an employment count of 961 as of December 31, 2022. As the employment number is not required tol bei met until December 31, 2023, Ir recommend the  TIRC. recommend continuation of the agreement.  ConAgra Foods Packaged Foods, LLC-E EZ#33 (2010 agreement)  This EZ agreement was approved in 2010. ConAgra expanded its plant at 801 Dye Mill Road for production of meat snacks (Slim Jims). The company had 367 existing job positions and pledged to create 188 more: for a total of 555 FTES. As ofDecember 31, 2022, the company reports 1,064, up again from last year's 997 positions. Irecommend the TIRC recommend continuation of the agreement. This is the second EZ agreement for ConAgra, which was approved in 2012. ConAgra made a comparatively small expansion to the original production line at its Troy plant, which makes frozen school-lunch pizza slices. The company had 643 existing. job positions and pledged to create at least 10 more. As of December 31, 2022, the company reports 1,064 positions, up again from last year's 997  ConAgra Foods Packaged Foods, LLC-EZ#34 (2012 agreement)  positions. Irecommend the' TIRC recommend continuation of the agreement. ConAgra Foods Packaged Foods, LLC-EZ#37 (2019 agreement)  This is the third EZ agreement for ConAgra, which began in 2019. ConAgra was required to make an investment at a minimum of sixty-nine million dollars ($69,000,000) which includes twenty-seven million dollars ($27,000,000) in real property improvement and forty-two million dollars ($42,000,000) in tangible personal property. ConAgra is currently completed with an approximately 62,800 square feet addition to accommodate expansion production of meat sticks (Slim Jims). ConAgra is required to    increase full-time employment by a minimum of fifty (50) employees. Job creation must take place within two years of the completion of the expansion project, which was completed in December 2020. As of December 31, 2022, the company reports 1,064 positions, which exceeds the required fifty (50) new employment requirements as last year they reported employment was 997. I recommend the  TIRC recommend continuation of the agreement.