Mayor defends TED Fund investments and details Dublin 7 payback projection

The Huber Heights mayor opened the Aug. 3 work session with a detailed review of the city's Transformative Economic Development (TED) Fund and recent economic-development transactions, saying the fund was created to recycle property-sale proceeds into further development rather than use income or property tax revenue. He said that land sales along Executive Boulevard have so far produced a net realized gain to taxpayers of $1,895,000.

"Property sale proceeds go into that fund," the mayor said, explaining the TED Fund's purpose as reinvesting sales proceeds for acquisitions, site work, debt service and job creation. He traced the TED Fund's authorizing resolutions back to 2018 and 2019 and described later ordinances that expanded TED project areas and added reporting requirements so council would be kept informed of staff spending.

The mayor responded directly to recent criticism about incentives for a project called Dublin 7. He said one 2.25-acre parcel sold to a hotel returned roughly $300,000 in profit, and that a conservative city model values the land at $355,950 and projects recovery of that land value by January 2031. He added the modeled total city investment in Dublin 7 is $855,000 (including a $500,000 tenant-improvement allowance) and that the city expects to recover that investment in approximately eight years and nine months, around September 2035.

"At a very conservative rate, between 8 and 9 years, the investment the city is making into Dublin 7 is going to be recouped," the mayor said, noting the analysis includes TIF, payroll tax and a proposed 1.5% NCA charge but does not yet assign value to municipal net-profit tax or construction-related income taxes that could shorten the payback period.

Council members and staff framed the project in the context of prior policy decisions: the TED Fund was seeded by property acquisitions and city strategy stretching back several years. Assistant City Manager Alex explained the statutory confidentiality changes that affect negotiating development deals and said developers now may be asked to waive confidentiality if financial details are to be discussed in public.

The mayor also noted the TED Fund has been used to seed small-business grant programs: $125,000 in 2025 and another $150,000 in 2026, which he said are being funded from TED proceeds, not general tax revenues. He argued the TED Fund's structure allows the city to reinvest land-sale proceeds in local economic growth rather than using property- or income-tax dollars.

Council did not take a vote on specific Dublin 7 legislation at the work session; the mayor said the history and modeling were presented to show why staff and council believe the investments are prudent and repayable over time.