NORTH BALTIMORE – The board of education got a surprise when it convened for a
special session late Friday afternoon.
Tony Swartz, fiscal officer for Henry Township, showed up at the meeting with a check
for $162,000 for the district.
Swartz, who said it was one of his last acts as fiscal officer, explained the money
was from the Tax Incremental Financing agreement the township has with CSX for
its intermodal facility.
Such plans, which put the property taxes generated by the increased value created by
a development in a special fund, are usually offered to companies as tax
incentives.
In this case, Swartz said CSX did not ask for such a fund, but he proposed the
creation for such a plan.
As school treasurer in other districts for many years, he knew that if the intermodal
facility simply went on to the property tax rolls, the state would perceive the
school district as being wealthier and reduce its state aid.
That’s not the case if the money is placed in a TIF. The company agreed, Swartz said,
when the benefits to the schools were explained.
The tax funds generated by the 30-year deal are shared half and half with the
township.
The $162,000 represents a half-year payment, he said, with another check for a
similar amount coming later this year.
This is a dramatic increase from last year, when for the entire year the fund
generated about $150,000 for the schools.
The board called the meeting to accept the resignation of Patricia Landenberger,
principal of Powell Elementary effective June 30. Superintendent Marlene North
said that in her letter Landenberger said the resignation was prompted by
unforeseen circumstances.
North credited her with getting the Olweus anti-bullying program in place at the
school and starting before-lunch recess for students.