Agenbroad said Springboro’s solid financial position has enabled the city to continue providing core government services, maintaining critical infrastructure, and providing safe and reliable utilities.
In 2023, income tax revenue was up 2.2% over 2022 and 8.5% over budgeted revenues for 2023. The city’s projected expenses for 2024 are $56.8 million for capital improvements and operations, a decrease of 9% over 2023 due to the city reducing capital and debt spending, Agenbroad said. He said the city is projecting a revenue increase of 3.5%.
“Springboro’s income tax rate remains among the lowest in the region and our property tax (for the city) is the third lowest in Ohio,” he said.
Agenbroad said the city has $10 million in capital spending approved for 2024 with $38.6 million budgeted over the next five years.
He said approximately $6.3 million will be spent on improvements to city street, water and sewer systems and $3.7 million on general capital and park and recreation projects.
“We have doubled our investment in paving to make sure every street in Springboro is repaved every 20 years to keep them in good, safe condition,” he said.
Agenbroad also noted major projects where the city is working with other agencies such as the Ohio Department of Transportation and the Warren County Transportation Improvement District and funding them with state grants or federal dollars.
Major projects in 2023 included safety upgrades on Ohio 73 and Interstate 75 and intersection improvements on North Main Street at Remick Boulevard. He said construction costs for both projects were covered 100% by two ODOT Safety Grants totaling $4.5 million. Upgrades included additional turn lanes to improve safety and traffic flow at these busy intersections. Work will continue at I-75 this year with further aesthetic enhancements at the exit ramp and areas surrounding the interchange.
He also said the city will begin the design phase of the East Central Resurfacing project, with construction anticipated in 2026. The roadway will be repaved to the eastern corporation limit, with an estimated $550,000 of the $1.1 million project being federally funded.
Agenbroad said significant upgrades at North Park will be completed this year, which include replacing the 25-year-old playground with an all-access playground totaling 30,000 square feet and the addition of pickleball courts. A total of $4 million will be invested at North Park in improvements and new equipment that will take place over several years.
Future phases include expansion of the entranceway and plaza, a potential water play feature, and new ADA accessible restroom facility. The city is seeking state monies to cover up to half of the remaining $2 million in costs for these improvements, he said.
Another major improvement underway is the construction of a new Clearcreek Twp. Fire District station and headquarters on Gardner Road to serve northwest Springboro and Clearcreek Twp.
Agenbroad said Springboro’s business-friendly approach attracts new employers and encourages existing businesses to expand and create new job opportunities. New business investment includes approximately 152,000 square feet of new and expanded commercial space currently planned or under construction in the city at sites such as South Tech Business Park, The Ascent Office Park, Village Park and along Ohio 73.
He said more than 20 new businesses opened in the city over the past year offering many specialty services. In addition, Wright Station at Ohio 73 and Ohio 741 continues to grow with the opening of a fifth commercial building and recently completed upgrades to accommodate outdoor gatherings and live music.
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