City, township, earning more from joint economic development district

by Jeff Saunders | reporter Published:

Nordonia Hills -- The Joint Economic Development District between Macedonia and Northfield Center is seeing an uptick in income tax revenue this year, as compared to 2011.

"Revenues are up significantly because the economy has improved," said Macedonia Finance Director Scott Svab.

Svab serves as fiscal officer for the JEDD, which encompasses the Crossings at Golden Link shopping center, most of which lies in the township, but with a portion along Route 8 in the city. It is governed by a board of trustees composed of representatives, all elected officials of both communities.

According to a report Svab presented to the board Dec. 5, income tax revenue in the JEDD through November totaled about $265,000, a nearly 30 percent increase over revenue collected over the same time last year, which was about $205,000. In addition, the JEDD received a $21,697 advance on anticipated December tax collections, which Svab said in his report "continues to show a strong stable growth."

Svab is proposing that the JEDD board disburse $90,000 to each community at the end of the year. Both communities already split nearly $98,000 earlier this year. These disbursements included nearly $126,000 the communities split in March -- money that was left over at the end of 2011. In May, the city and township split $70,000.

"It's been a great working relationship for both the city of Macedonia and the township," said Svab.

E-mail: jsaunders@recordpub.com

Phone: 330-541-9432

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