Council and staff all the best, recognizing that the city remains in very capable hands. He thanked everyone for everything they have done for him and his family.

Vice Mayor Byington commented that as previously mentioned, Mr. Weiskircher has been involved in every significant accomplishment at the city over the past 35+ years, but he was also involved with the smaller accomplishments that happened on a day-to-day basis as well. Handling all the small things allowed City Council and staff to be the very best they could be.

Mr. Stephens shared that he has known Mr. Weiskircher for many years, but became closer to him when he was elected to City Council. Mr. Weiskircher’s knowledge and experience cannot be replaced. He wished Mr. Weiskircher and his family all the best.

Mrs. Hilton expressed emotion and stated that she is unable to make comments, but Mr. Weiskircher knows how she feels about him and his outstanding service to Oakwood.

Mr. Epley said that he is the newest member on City Council and he is sure that Mr. Weiskircher has more stories than he has let on. He offered to be his ghostwriter if he ever decides to share those stories. He congratulated Mr. Weiskircher on a very successful career.

Thereupon, it was moved by Mayor Duncan and seconded by Vice Mayor Byington that the resolution be passed.

Upon call of the roll on the question of the motion, the following vote was recorded:

There being five (5) yea votes and no (0) nay votes thereon, said resolution was declared duly passed and it was so ordered.

A copy of the ordinance, having been placed on the desks of each member of Council prior to introduction, was read by title.

Vice Mayor Byington explained that this is the second reading of an ordinance that was introduced at the December 11 Council meeting. It would reduce the credit that Oakwood gives for income taxes paid to other cities. In Ohio, residents pay local income tax where they work and where they live. Oakwood currently gives residents a tax credit for all local income taxes paid elsewhere, up to the full amount of Oakwood’s 2.5% income tax. In other words, if a person pays taxes where they work, that amount is credited against the tax they owe to the city of Oakwood.

This ordinance would reduce the credit using a factor of 0.9. What it means is this: Every resident who currently gets a credit will continue to get a credit, but their credit will be multiplied by 0.9. In other words, there is a slight reduction of their credit, but they will still get 90% of the credit they have always received.

This reduction factor does three other critically important things. First, it protects Oakwood’s revenue from reductions that happen automatically when surrounding cities increase their income tax rates. Second, it ensures that all Oakwood residents who have taxable income will pay at least one-quarter of a percent (0.25%) to Oakwood. And finally, it ensures that no one’s local tax burden will increase by more than one-quarter of a percent (0.25%). This last point bears repeating: no one’s taxes will go up by more than one-quarter of a percent (0.25%) as a result of this ordinance.

This ordinance is a necessary step to stabilize city finances after losing nearly $3 million of funding per year due to the 2013 repeal of Ohio’s estate tax, state cuts to the Local Government Fund, and other state cuts, and after tax rate increases in 24 other cities have cost the city of Oakwood nearly $800,000 in annual revenue.