BROADVIEW HEIGHTS, Ohio -- The city will borrow $2 million to pay for the extension of Treeworth Boulevard off the north side of Ohio 82 just west of Interstate 77.

On Sept. 15, City Council approved the borrowing through the issuance of bonds and notes.

The city is planning to repay the debt over 20 years or more, according to the ordinance council approved last month.

The interest rate on the bonds is estimated at 6 percent, while the interest rate on the notes will not exceed 5½ percent, according to the ordinance.

At a Sept. 8 council work session, city Finance Director David Pfaff said the city will repay the debt with money generated from a tax increment finance agreement (TIF) that council approved in 2022.

Under the TIF, new property taxes generated by development at the e

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