LAFAYETTE TWP. — Township businesses soon could have the opportunity to opt in to a Joint Economic Development District with the city of Medina.
Township trustees voted at a special meeting Friday to prepare the JEDD agreement for their April 15 meeting, Trustee Lynda Bowers said.
The JEDD would give township businesses the option to adopt Medina’s 1.25 percent income tax in exchange for city services and infrastructure improvements, like landscaping and sidewalks.
Bowers said the proposed agreement is modeled after Montville Township’s partnership with the city.
Montville’s agreement states that 20 percent of the tax money collected goes to improvements. The rest of the funds are split between the township and city.
JEDDs are a way for townships to benefit from income taxes, which townships are not allowed to collect under Ohio law.
Bowers said the agreement is ideal.
“It’s an absolute win,” she said. “It gives businesses the chance to opt in or opt out, so everybody wins.”
Trustees regularly meet at 6:30 p.m. on the third Monday of each month at the township hall, 6776 Wedgewood Road.
Contact reporter Nick Glunt at (330) 721-4048 or firstname.lastname@example.org.