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1Vlinutes of the Regular Meeting of Council . <br />Monday; June 18, 2018 . <br />Page 24 <br />Chris Skoda I own just a little over 6 acres. I have a contract for approximately three quarters of an <br />acre to balance out to almost 7. <br />Mr: Williams stated, olcay. I just wanted..to make sure I heard you correctly. Second <br />question, someone mentioned property value. I believe it was Mr. Di-Franco. . I want to <br />clarify what the thought was that property values for the Village would go up, property <br />value for other homes would go down if this developmenf took place. , <br />Council President Saponaro asked, who talked about property value? <br />Derek McDowell <br />It _ was referenced by IVIr. Marrelli I think in regards to Planning and Zoning what the <br />measures were they would look for in terms of whether to put this on the ballot or not. I <br />believe that it would increase the tax .revenues of. the Village. That would be one of the <br />metrics they would look at. _ <br />' Mr. Williams stated, I brought. it up from the standpoint of would this help improve <br />property values across Mayfield Village or not? . <br />Council President Saponaro asked, and Mr.. Marrelli since your naine's been listed as being the person to advance that? <br />Mr. Marrelli replied, first of all, the reference I made was the difference betweeii two <br />vacant grass parcels and the 26 homes as far as income tax goes: Right now what you <br />have, people are missing the p.o.int that there i.s two businesses .that own, parcels that were <br />unusable unless they . were rezoned for commercial._ which 'could have been done at some <br />point and then you would have two commercial properties on Highland Road which again <br />wouldn't make anybody happy. My point was, there is land that's not being uSed for <br />anything. Right now, there's zero income ta•x coining off of those properties because they <br />are just growing. grass like Mr. Piecuch mentioned. So the idea was if you were to build 26 <br />homes in the $400,000 range we are going to have a boom on income tax. <br />Mr. Williams asked, what about property values for the individual homeowners? <br /> <br /> <br />Mr. Marrelli replied, when you do comps in tlie neighborhood, they have to take in all the <br />areas so if yo.ur house is $200,000 and miiie's $400,000, youis is goirig to go. up because of <br />mine. It's not going to go down. <br />Mr. Coyne stated, I wanted to comment on that a little bit as well because I think a <br />representative of tlze cominunity said the property taxes would go fo the Village. Tlley <br />would not.. The property taxes go almost entirely to the School District. So the School <br />District ,vould be the beneficiary of the property taxes going up given the price points that <br />were di_scussed, I don't know what the value of the land is; but it would be substantial. The