By Michelle Dupler
Franklin Township could receive $39 million over 50 years from shared revenues from Hollywood Casino.
This comes from an agreement with the city of Columbus, which Franklin Township trustees approved Sept. 26. It must be approved by Columbus City Council before finalized.
The money is meant to compensate the revenue Franklin Township lost after the 108-acres where the casino sits was annexed into Columbus about two years ago.
Franklin Township trustee Tim Guyton said the casino owners had no choice but to annex into the city if they wanted city water and sewer.
The agreement calls for the township and city to partners in a joint economic development district (JEDZ) around the areas of Georgesville Road and West Broad Street.
Seventy percent of revenues from the JEDZ would go to Franklin Township to benefit economic development. The remaining 30 percent would be split between the city and township’s general funds.
The agreement calls for the township to provide fire and police services, road maintenance, record-keeping, staffing and meeting space for the JEDZ.
The city would also agree not to annex land within the target area for five years. The agreement is retroactive for Oct. 8, 2012, the day the casino opened.
Franklin Township finance officer Lisa Morris said
The township would receive $911,000 annually or the first few years, compared to the $67,000 average annual tax revenue collected from the former Delphi plant.
Guyton and trustee Paul Johnson voted in favor of the agreement. Trustee Don Cook abstained because he said he disliked being told the township must spend money on the JEDZ.
“There’s a lot of things I don’t like in it,” Cook said.
Franklin Township would start to receive money 30 days after the deal is finalized, according to township officials.