Upper Arlington City Council unanimously approved a tax-increment financing agreement for the Kingsdale Shopping Center Monday night.

Upper Arlington City Council unanimously approved a tax-increment financing agreement for the Kingsdale Shopping Center Monday night.

The TIF agreement will fund public infrastructure improvements associated with Continental Real Estate's redevelopment of Kingsdale.

"This is a significant next step in the Kingsdale redevelopment," said council president Don Leach.

Continental completed its $20-million acquisition of the 21.68-acre core of Kingsdale in August and has begun construction on a new Giant Eagle Market District grocery store, which will be relocated from Tremont Road to Northwest Boulevard.

As part of an economic development agreement with Continental, the city plans to invest $5.3-million to facilitate office development on 5 acres.

"Public improvements that shall be paid for with TIF proceeds include acquisition of the office parcel by the city, a Northwest Boulevard traffic signal, storm sewer, sanitary sewer and a new road to the south of the Giant Eagle and east of the water tower," wrote Matt Shad, deputy city manager for economic development, in a staff report.

In an agreement with the city, the Upper Arlington City School District will forgo 25 percent of the increased property taxes due on the completed development for up to 30 years.