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<br />IAr. McKay:.then spoke and stated that if the improvements mentioned
<br />by Mr. Wolstein ultimately cost $50,000,000.00, that should increase the
<br />tax duplicate by $20,000,000o00., He stated that communities which do not
<br />have a reasonable amount of commercial and apartment development have a
<br />tax rate of ten to fifteen mills more than those who do. Exclusive residential
<br />communities, such as Bay Village, have very high tax rates, all the way up
<br />to fifty-three mills: On the contrary, Brooklyn has 34a9 mills f or its rate,
<br />Solon 39.3, Euclid 39.2, Independence 34.mills, and,Walton Hills 33.5. These
<br />all have developments to supplemen-L. residential development.
<br />GJith Camelot, $20,000,000,00 should be added to the tax duplicate by
<br />1973. Similarly, $1,160,000.00 will.be added to the public utilities duplicate
<br />and $1,340,000.00,to the tangible property duplicatee The total increase
<br />would be $23,000,000,00. Adding new houses at the rate,of 30 per year f or
<br />10 years there would be another $3,000,000.00.increase on the real estate
<br />duplicate and $174,000.00 on public utilities. The total 8uplicate f or 1973
<br />is estimated to be $34,555,000.00 if the Camelot improvement is constructed.
<br />Mr. McKay presented a chart..showing the increase in tax rates during
<br />the past five.years. = With costs and.services increasing and the duplicate
<br />rising only s1oF31y as of the present, the tax rate shoald reach 54 mi11s
<br />by 1973 as in the case of-Bay Village. With a development such as Camelot,the
<br />thx rate :-therebf. could go down substantially. A small home owner could
<br />save about $300.00 a year in taxes. Otherwise an increase of $275.00 on
<br />each small home can be expected. If Came.lot is developed and there is no
<br />decrease in tax rates, then an increase.of 332% in revenue'can be expected.
<br />The Mayor then asked f or comments or questions from the floor,by
<br />proponents of the proposed ordinance. Mr. James P.lastine expressed his
<br />approval of the proposal.
<br />Mrm William B. Henry, Director of the Regional Planning Commission
<br />and a resident of the Village of May£ield, then gave a presentation in
<br />opposition to the ordinance: He stated that a comprehensive plan f or the
<br />Village has been developed by ttie Regional Planning Commission, awaiting
<br />f or its completion only on the disposi.tion of this proposed ordinance. The
<br />territory in question has already been re-zoned f or new,uses. The Regional
<br />Planning Commission consulted persons like Mr. West, Mre Cragin and the like.
<br />Mr. Henry then reviewed the history of the Freeway with the Interchange.
<br />Mayfield asked the Regional Planning Commissi.on:to plaa f'or its future, as
<br />diel Parma, Solon and other cocmnunities mentioned by Mr. McKay. The.develop-
<br />ment in such commanities:as Solon was du.e to industry, not apartments. .
<br />Mayfield Village and Highland Heights suddenly f ound that they had :
<br />the largest vacattt acreage near aa Interchange in the Northeast section of
<br />the county. The re-zoning of the property in the area of the Freeway
<br />was,completed in September of 1962. While that legislation was.being
<br />considered, the same peop7.e owned the property now in question as dQ.:now•,.
<br />and yet no objection came f rom them as to the re-zoning which was accomplished
<br />in 1962.
<br />2.
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