Toledo, Sylvania leaders reach water deal

The city of Toledo will sell water to Sylvania residents at a cheaper rate in exchange for a share of income tax for all new development at Flower Hospital, the mayor’s of both cities announced Monday.

Toledo Mayor Carty Finkbeiner said the agreement would bolster the city’s tax revenue.

"A regional approach to encouraging growth is essential if all parties are to profit," Mr. Finkbeiner said. "We are making an effort to facilitate this growth by using our resources and expertise to keep and attract new businesses wherever they wish to locate in our region."

Sylvania Mayor Craig Stough said he was pleased with the arrangement, which will cut the surcharge on water sales from 125 percent to 75 percent.

Toledo council voted last year to increase the surcharge on water sales to communities with no water contract from 100 percent to 125 percent, with automatic 5 percent increases each year thereafter until a contract is signed.

http://toledoblade.com/apps/pbcs.dll/article?AID=/20080811/NEWS16/85388797

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