TIRC: Tax Incentive Review Council

Tax Incentive Review Council

Created by the Ohio Revised Code (“ORC"), the Tax Incentive Review Council (“TIRC”) annually reviews all agreements granting exemptions from property taxation and any performance audit reports required to be pursuant to those agreements. The Department of Community and Economic Development ("DCED") provides staff support to the Tax Incentive Review Council, including the compilation and dissemination of the necessary reports on all TIF exemptions and Commercial CRA Agreements

TIRC oversees compliance of Commercial CRAs & TIFs. It determines if owners of exempted properties have complied with Agreements and reviews exemptions relating to the declaration of public purpose improvements. They may consider market fluctuations or changes in the business cycle unique to the owner’s business. TIRC has seven members, one of whom is a member of City Council appointed by the Mayor, two of whom are residents appointed by the City Manager (at least one of whom must be a racial minority), and the others determined by the ORC.

Upcoming TIRC Annual Meeting: June 20th, 2024

Current TIRC Members

Jessica Miranda

Hamilton County Auditor, TIRC Chair

Term: 1/1/2024-12/31/2099

Sheryl M. M. Long

City Council Member

Jennifer Wagner

School Board Treasurer

Jan-Michele Lemon Kearney

City Council Member

Term: 1/1/2021-12/31/2022

Karen Alder

City Finance Director

Vacant Slot-City Resident (Minority)

Vacant Slot-City Resident

Goal

The goal of monitoring tax incentives (TIFs and CRAs) is to review and determine a Company’s compliance with the Agreement and to hold the Company accountable to the obligations in the Agreement.

Overview of Process

TIF and CRA Annual Reports are collected and reviewed for compliance by DCED staff. With assistance from the Finance Department, DCED staff then compile a report on both TIFs and CRAs that is submitted to the Ohio Department of Development. Similar reports are compiled and distributed to the TIRC members for their review before the TIRC annual meeting. DCED staff facilitate the meeting, present the reports, and take notes/minutes. TIRC minutes and written recommendations for continuation, modification, or termination of each agreement are reported to City Council yearly. Ongoing monitoring activities take place throughout the year, including assignments, deadline extensions, and completion application processing.

Timeline

Upcoming TIRC Annual Meeting: June 20th, 2024

Annual Reports are collected January-March, with the State Report due March 31. Compilation of TIRC Reports occurs in May/June, and the TIRC Annual Meeting is in June. TIRC Minutes and Recommendations are reported to City Council in September. Throughout July-December, DCED staff execute ongoing TIF and CRA monitoring and support.

Interested? Have questions? For more information, contact:

Michael Banish, michael.banish@cincinnati-oh.gov