4000 Red Bank Road, Fairfax, Ohio

Undertaken by the Port Authority in cooperation with the Village of Fairfax; Tax Increment Financing (TIF) bonds were issued for public infrastructure improvements at the remediated former Ford Transmission Plant site. In May 2007, $7.675 million in revenue bonds were issued to fund a variety of street and road improvements, a police substation, storm sewer improvements, as well as other public utility improvements. The financing is in support of an approximately $60 million mixed-use redevelopment of the 35 acre site.

The mixed-use development is called Red Bank Village and is anchored by a 151,908-square-foot Wal-Mart, with an additional 12,600 square feet of retail, and over 75,00 square feet of office space.  The office component is being developed by Miller-Vlentine Group.  Additional development planned for the site includes another 38,500 square feet of office space, 11,900 square feet of retail, and three out lots.  Tax revenue from the site is expected to increase from $35,000 to $2.6 million annually.