Toledo development agreement with Lake Township - News, Weather, Sports, Toledo, OH

Toledo development agreement with Lake Township

Posted by Lisa Strawbridge - email

TOLEDO (WTOL) - It's viewed as another important step to jump-start the local economy. Officials from the city of Toledo and Lake Township are creating a joint economic development district.

The city will collect income tax from jobs created, and the city will receive 40% of business tax collected on land surrounding Metcalf Field. "Where the runways cross that acreage, 200 acres plus is developable. It's right on property Toledo built the first airport for this region," said Tom Hays with Lake Township Legal Counsel.

The agreement requires approval from township trustees and city council. That's expected to happen within a month.

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