City Manager Scott Brunka said the proposed annexation agreement would require the city sharing income tax revenue for 12 years with the township.
In addition, part of the proposed agreement with the township was a request that the income tax revenue sharing payments not start until year five of the 10- to 20-year build out, Brunka said. The township also requested some parcels north of Lebanon be excluded from future annexations, which council nixed during the work session discussion.
He said the agreement will stipulate that the city and township will negotiate to develop a memorandum of understanding outlining the future development and revenue sharing for this area.
“The township wanted a seat at the table on future development,” he said. “I look at this as a ‘win-win’ as this is the type of annexation we’d recommend. It will also require the widening of Ohio 63 and (traffic) signals.... There will be a lot of infrastructure to be done by the developer.”
Brunka said a portion of the Parkside property, about 100 acre,s is already in the city as it was annexed about 10 years ago. However, about 177 acres of the 277-acre development would be annexed.
“The rezoning of the property, and development plan approval, would be considered by Planning Commission and City Council after the rezoning process is completed,” Brunka said. “Currently, we anticipate the annexation process being completed in October.”
The development, which will be developed by Doyle-Hughes Development of Cincinnati, will include:
- 60-acre park.
- 469 single-family homes in the $300,000 to $900,00 price range.
- 178 single-family town homes in the $250,000 to $300,000 price range.
- 105 single-family age restricted homes in the $250,000 to $350,000 price range.
- 230-unit senior living facility at $200,000 per unit.
- 280-unit multi-family at $200,000 per unit.
- A $3.85 million retail/office development.
Developer Neil Hughes said the mixed-use multi-generational development is being designed by land planners and architects at Nelson/Wakefield Beazley. He said the development features a senior village with cottages, independent living apartments, assisted living and memory care facilities.
Hughes said there will be a fully integrated mix of single family homes, patio homes, townhomes and condominium flats and luxury apartments.
He said in addition to the 60-acre park, “it will be heavy on amenities” such as a trail system, a small fishing lake, club house with swimming pool, playground and dog park.
Hughes said the build out of homes will begin on the western portion of the development. He also said there will be two entrances off Ohio 63 as well as “right in, right out” entrance and exit and that two more entrances will be added during the build out. It will also feature “a substantial berm with landscaping on top of the berm as a natural sound barrier.” Hughes said about 12,500 vehicles a day travel Ohio 63 between Interstates 71 and 75.
“We’re really excited about coming to Lebanon,” Hughes said.
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