SPRINGFIELD TOWNSHIP, OH (Toledo News Now) - A proposed exit and entrance ramp on I -475 to Dorr Street may be in jeopardy after Springfield Township Schools rejected a tax agreement with the township.
Springfield Township has already agreed to contribute $2 million to create an exit and entrance ramp on I-475 to Dorr St, but township administrators say they need the schools help in order to make it happen.
Monday the Springfield school board rejected the tax increment financing agreement which would move any increased revenue the school made through increased property value to the township.
Township administrators say the school would not loose anymore money from the deal, the school would just have to wait to gain the increased revenue.
The school rejected the plan Monday because the agreement states they would have to wait 30 years to collect.
Township administrators say the $2 million would be paid before the 30 years were up and the school could start receiving the increase funds right away.
"Yes they are promising to make them hole, but it is way down the road and so if they have to need more money guess who they are going to come to, the tax payer," said Springfield resident Jessie Geis.
"If we are not able to come up with an agreement regarding to TIF, I am afraid that the Dorr street interchange project would not come to fruition and that the project may be dead," said Township Administrator Leslie Kohli.
School board members and township administrators say they will continue to try and work on an agreement.