Avon I-90 interchange clears hurdle
Join the discussion below, or Read more at Crain's Cleveland Business.
#1 Oct 15, 2007
Why would Lakewood get involved in this? Lakewood can't keep the storefronts on Madison and Detroit occupied.
#2 Oct 19, 2007
The agreement will create an 800-acre joint district north of the new interchange. Income taxes generated by businesses with gross annual payrolls of more than $750,000 that relocate to the Avon zone from another community participating in the district would be split evenly between Avon and the community losing the taxpayers.
This way, if a business relocates from Lakewood to the new Avon special district, Lakewood would only lose in theory half of the payroll taxes. Its a tiny hedge against loss for the communities - tied to the opening of a new interchange in Avon that will make it much easier to get to that area. Land is cheaper, taxes lower, etc. It would be an attractive place for a business to build anew.
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