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HUDSON, OH (September 4, 2019) – At the September 3 Council meeting, City Council voted 5-2 on a motion approving Phase A of Downtown Phase II. Phase A is the residential portion of the project that will be built first, followed by the commercial/office portion that will go before Planning Commission and Council at a later date.
The next step is working on a financial agreement with project developer, Testa Companies. The financial agreement will finalize the financial responsibilities of the City and the developer. The City plans to recoup any City costs through a Tax-Increment Financing (TIF) agreement that allows for new taxes generated by the development to pay for the City’s out-of-pocket costs. Previously, the City used a TIF to pay for the City’s portion of costs to develop First & Main. That TIF agreement has since been paid off, and the City and Schools are receiving their full portion of taxes generated from First & Main.
While the site plan and infrastructure has been approved, the residential architectural designs, when completed, will be forwarded to the Architectural and Historic Board of Review for review and approval prior to beginning housing construction.
The concept for Downtown Phase II came from the Comprehensive Plan, a citizen-led vision for Hudson’s future. The Plan has gone through numerous iterations over the past few years based on input from citizens, Council and Planning Commission which has resulted in lower residential and commercial density, reduced traffic impacts, additional greenspace, and more single-family detached homes on smaller lots. For more information about Downtown Phase II, visit www.hudson.oh.us/downtownphase2.