As the village continues to grow, Plain City officials are on track to hire a municipal financing adviser.
Finance Director Renee Sonnett recommended during council’s work session Wednesday that the village hire Rockmill Financial Consulting.
She noted that David J. Conley, president of Rockmill, previously assisted the village with their income tax levy and utility rate increase.
In vouching for his services, Sonnett said she believes the income tax levy was approved largely due to Conley’s assistance.
While the village has not used Rockmill’s services in several years, Sonnett said she feels entering into a contract with the firm now would be “hugely beneficial.”
She noted that Conley also has “a wealth of knowledge” surrounding Tax Increment Financing (TIF) agreements – the village is currently considering what would be the first ever TIF in Plain City – and Community Reinvestment Area (CRA) abatements, which have been regularly considered for Uptown buildings recently.
Generally, Conley will serve as an adviser to Sonnett and Village Administrator Haley Lupton.
Sonnett said, in the past, Conley has been willing to attend council meetings to discuss topics and share his advice with council members. She said she feels he would be happy to do so again.
Plain City Police Department Chief Dale McKee agreed.
“He’s always gone above and beyond to help us,” McKee said.
Lupton said the village has already budgeted for the cost through monies allocated for consulting services.
Lupton said the village requested a contract from Rockmill Wednesday and would provide council with the document once received. She said Conley indicated his services cost $30,000 per year.
Sonnett said this is the same cost he charged when Plain City entered into a contract with him in 2016.
Council President Michael Terry said he trusts the advice of Sonnett and supports entering a contract with Rockmill Financial Consulting, especially considering the cost is already in the village budget.
Sonnett said a resolution regarding the contract would likely appear before council in the next several weeks.
Council also approved a tax abatement that will allow developers to convert the historic clock tower building into a brewery and restaurant.
During Wednesday’s council work session, a Community Reinvestment Area (CRA) abatement for 101 S. Chillicothe St. was approved with a 5-0 vote. Council member John Rucker was absent.
Investors Rayce Robinson and Andy Warnock applied for the abatement with the intent to bring Moeller Brew Barn to the former Tique Tock building.
The abatement, which was already approved by the Jonathan Alder Board of Education, will result in a 100% tax exemption, regarding to the property taxes of the assessed valuation of the redeveloped structure, for 12 years.
Construction on the project is scheduled to start in late 2022 with an opening in mid-2023, according to an earlier statement from Robinson and Warnock, and Moeller Brew Barn.
Much of council’s work session was spent in four different executive sessions, though no action was taken following them.
Council held two executive sessions to consider confidential information surrounding economic development; one session to consider the employment of a public employee or official and one to consider the purchase of property for public purposes.
Council will host its next regular meeting at 7 p.m., April 11, in the Municipal Building, 800 Village Blvd.