March 11, 2019

The City of Streetsboro has agreed to pay the Streetsboro City School District $625,000 to resolve the District’s lawsuit over its claim that the City had failed to make required payments under a revenue sharing agreement through 2017. In exchange, the District has agreed to dismiss its lawsuit. The District and the City further agreed to negotiate a new revenue sharing agreement to address future property tax abatements.

“I am glad that we have resolved the lawsuit, and look forward to working with the Mayor and City Council to address the challenges facing our community,” said District Superintendent Michael Daulbaugh. “The City’s payment at this time of the District’s share of income tax revenue is a needed shot in the arm for our finances, but does not eliminate our need to pass the upcoming levy,” continued Daulbaugh.

Additional coverage via the Record Courier, here.