There were a few items that created a large amount of discussion, in the Agenda Review for Toledo City Council on February 10th, one is a topic that was blogged about here, the Health Care REIT tax credit/incentive package.
84-09 Approve Municipal Job Creation Tax Credit for Health Care REIT, 7 years at 40% of income tax
85-09 Approve Toledo Expansion Incentive (TEI) for Health Care REIT, 10 yrs at 10% growth in income tax
86-09 Approve property tax exemption for Health Care REIT, 12 years at 100% of increase in valuation
The deal the Mayor wants to give Health Care REIT was discussed by Dave Amstutz who started out saying how long it had been before he came before Council with such a large expansion deal and how tough it had been, stating that all of these incentives would have them keep all 68 and add 40 new employees, 8 during the first year (the state reported 45 new jobs).