TIF tax increment rebate
DERS Development, LLC (Park Place infrastructure)
Park Place commercial and mixed-use development · Park Place (1100 Andersen Place, 1600 North Park Road, 1201-1301 Aster Drive)
Unofficial register compiled from the ordinances, resolutions, minutes, certifications and urban renewal reports in this archive. Every figure is as printed, with its page. Payments are the ones the archive shows (state reports from FY2021, claims lists and payables lists); a year or payment the archive does not hold is missing, so totals here are a lower bound. The City of Tiffin's records govern.
Jun 6, 2017approved by the council
$12,000,000as certified As printed
$529,468paid, found in the archive Derived
Approvedstatus
Party: DERS Development, LLC; DERS Tiffin, LLC (recipient) · Property: “1100 Andersen Place” p. 20 · PDF
Terms as printed
- As certified: “Rebate for 80% not to exceed $12,000,000 for a period beginning December 1, 2022 and continuing for 40 semiannual payments.” p. 6 · PDF
- First cap set for hearing: “Including Annual Appropriation Tax Increment Payments in an Amount not to Exceed $10,000,000” p. 4 · PDF
- Amended agreement (2022): “the City agrees to make forty (40) semiannual economic development tax increment payments” p. 5 · PDF
- Base valuation: “this Agreement is $ 250,000 (the “Base Valuation”)” p. 1 · PDF
- Obligation as reported to the state (FY2025): “Park Place Development Debt/Obligation Type: Rebates Principal: 15,000,000” p. 19 · PDF
Council actions
| Date | Action | Instrument | Source |
|---|---|---|---|
| May 2, 2017 | Hearing set | Res. 2017-025 | p. 1 · meeting |
| May 16, 2017 | Hearing set | Res. 2017-028 | p. 1 · meeting |
| Jun 6, 2017 | Agreement approved | Res. 2017-035 | p. 1 · meeting |
| Sep 5, 2017 | Master agreement approved | Res. 2017-078 | p. 1 · meeting |
| Aug 16, 2022 | Hearing set | Res. 2022-071 | p. 1 · meeting |
| Sep 6, 2022 | Amended agreement approved | Res. 2022-075 | p. 1 · meeting |
| Jul 16, 2024 | Hearing set | Res. 2024-046 | p. 1 · meeting |
| Aug 6, 2024 | Amended agreement approved | Res. 2024-049 | p. 1 · meeting |
From the minutes
Payments found
| Year | Date | Amount As printed | Source | As printed |
|---|---|---|---|---|
| FY2023 | — | $27,912.00 | Annual Urban Renewal Report · p. 20 | 1100 Andersen Place TIF Expenditure Amount: 27,912 Rebate Paid To: DERS Development Tied To Debt: Park Place Development Tied To Project: Park Place Development Projected Final FY of Rebate: 2036 |
| FY2023 | — | $18,759.00 | Annual Urban Renewal Report · p. 20 | 1600 North Park Road TIF Expenditure Amount: 18,759 Rebate Paid To: DERS Development Tied To Debt: Park Place Development Tied To Project: Park Place Development Projected Final FY of Rebate: 2036 |
| FY2024 | — | $33,751.00 | Annual Urban Renewal Report · p. 21 | 1100 Andersen Place TIF Expenditure Amount: 33,751 Rebate Paid To: DERS Development Tied To Debt: Park Place Development Tied To Project: Park Place Development Projected Final FY of Rebate: 2036 |
| FY2024 | — | $31,254.00 | Annual Urban Renewal Report · p. 21 | 1600 North Park Road TIF Expenditure Amount: 31,254 Rebate Paid To: DERS Development Tied To Debt: Park Place Development Tied To Project: Park Place Development Projected Final FY of Rebate: 2036 |
| FY2024 | — | $86,019.00 | Annual Urban Renewal Report · p. 21 | 1201 Aster Drive TIF Expenditure Amount: 86,019 Rebate Paid To: DERS Development Tied To Debt: Park Place Development Tied To Project: Park Place Development Projected Final FY of Rebate: 2036 |
| FY2025 | — | $196,472.00 | Annual Urban Renewal Report · p. 20 | 1100 Andersen Place TIF Expenditure Amount: 196,472 Rebate Paid To: DERS Development Tied To Debt: Park Place Development Tied To Project: Park Place Development Projected Final FY of Rebate: 2036 |
| FY2025 | — | $35,512.00 | Annual Urban Renewal Report · p. 20 | 1600 North Park Road TIF Expenditure Amount: 35,512 Rebate Paid To: DERS Development Tied To Debt: Park Place Development Tied To Project: Park Place Development Projected Final FY of Rebate: 2036 |
| FY2025 | — | $90,900.00 | Annual Urban Renewal Report · p. 20 | 1201 and 1251 Aster Drive TIF Expenditure Amount: 90,900 Rebate Paid To: DERS Development Tied To Debt: Park Place Development Tied To Project: Park Place Development Projected Final FY of Rebate: 2036 |
| FY2025 | — | $8,889.00 | Annual Urban Renewal Report · p. 20 | 1301 Aster Drive TIF Expenditure Amount: 8,889 Rebate Paid To: DERS Development Tied To Debt: Park Place Development Tied To Project: Park Place Development Projected Final FY of Rebate: 2036 |
Note: The state reports' Park Place Development obligation (incurred 12/21/2016 as printed) covers the DERS agreements; its principal is printed as $12,000,000 through FY2023, $14,802,304 for FY2024 and $15,000,000 for FY2025.
Timeline
- May 2, 2017 — Hearing set: Res. 2017-025 (source)
- May 16, 2017 — Hearing set: Res. 2017-028 (source)
- May 16, 2017 — Hearing held; a new hearing set with the cap raised to $12,000,000. (source)
- Jun 6, 2017 — Agreement approved: Res. 2017-035 (source)
- Sep 5, 2017 — Master agreement approved: Res. 2017-078 (source)
- Aug 16, 2022 — Hearing set: Res. 2022-071 (source)
- Sep 6, 2022 — Amended agreement approved: Res. 2022-075 (source)
- Jul 16, 2024 — Hearing set: Res. 2024-046 (source)
- Aug 6, 2024 — Amended agreement approved: Res. 2024-049 (source)
Data last updated October 17, 2026. Built from the archive's documents; see how the data is built.