[ back ]
Part of hotel bed tax could go to REDI
(by Rachel Scofield, Staff Writer - October 06, 2009)
Council will vote to allocate 15 percent of the city's hotel bed tax to Reynoldsburg Economic Development Inc. (REDI).
The REDI board will invest the money (not to exceed $25,000) in projects to encourage economic development in Reynoldsburg, Development Director Lucas Haire said at the Oct. 5 city council meeting.
City leaders formed REDI in 1966, Haire said.
The organization facilitated several large projects including the Kroger on Main Street and the expansion of Dynalab, Haire said.
The organization originally received funding through the sale of state bonds, but that revenue option no longer exists, Haire said.
Councilman Mel Clemens suggested raising the bed tax to increase revenue for REDI without taxing residents.
City Auditor Richard Harris said that Reynoldsburg charges a 4-percent tax while the other Columbus suburbs charge 6 percent.
Increasing the bed tax to 6 percent would generate an additional $25,000 per year on average, Harris said.
[ back ]
