An annexation agreement with Miamisburg involving 41 acres has been approved by Miami Twp.
Township trustees voted Tuesday night to allow an agreement for the annexation of four parcels on Miamisburg Springboro Road in exchange for a property tax sharing deal, township records show.
The land is near Medlar Road, northwest of the Interstate 75/Austin Boulevard interchange, home of Austin Landing. That interchange area – known as Austin Center – has seen significant development in recent years and is the focus of a three-way development agreement between the city, the township and Springboro.
The agreement will call for the township to get 50 percent of the property taxes from those four parcels for 15 years, according to township records.
The collection of those taxes would start “upon completion of more than 50 percent of the planned development,” a memo from Acting Township Administrator Ron Hess states.
Records show an annexation agreement was the focus of a Miamisburg City Council executive session earlier this month.