County Approves Bond Issue for Trupointe TIF Road Improvements
July 28, 2016 at 4:25 p.m.
By Jordan Fouts-
The $500,000 additional appropriation from the Economic Development Income Tax fund for widening North CR 100E between county roads East 1300N and East 1400N, bordering the construction site of Trupointe Cooperative Inc., will be paid back through Trupointe’s purchase of the county’s bond.
The 20-year bond, worth $1.54 million and which the county Redevelopment Commission approved earlier Thursday, is expected to be closed on by Nov. 27. The bond comes at no risk to the county because Trupointe will purchase it with its own cash, county Attorney Mike Miner told the council.
The road widening will resume in spring on the south side of the railroad bridge, County Highway Superintendent Scott Tilden told the council. Miner said that after the road is completed and paid for, any extra revenue from the Tax Increment Finance District the county established around Trupointe can be put toward other improvements in the district.
The district captures additional tax value from land improvements the company makes, such as construction, into a fund to be used for infrastructure development in the area, Miner told the council. Existing tax value in the district is still collected by the county as usual.
The Redevelopment Commission began Thursday discussing just what the county can do in a TIF district, such as road, sewer and water line improvements, and possibly land acquisition. It will establish guidelines to be approved at a later meeting, but members expressed a desire to be as generic as possible to allow for all possible potential uses.
The 1,104-acre, 25-year TIF district north of Milford is expected to capture about $411,000 a year for infrastructure improvements, the Redevelopment Commission heard in April when adopting the confirmatory resolution. Todd Samuelson, a partner with Umbaugh and Associates, said at that meeting the TIF is expected to generate about $1.7 million above the cost of road widening.
Also Thursday, the council heard that the Kosciusko Coalition on Drug Enforcement will be shifting its investments from certain community awareness efforts to the county drug court. K-CODE will continue to hold town hall meetings, but will scale back expenses such as methamphetamine-awareness billboards, which cost $15,000 to $16,000 a year.
Heather Desenberg, K-CODE coordinator, and County Prosecutor Dan Hampton told the council that while they’re not backing off on meth awareness, they do have to reallocate dwindling resources and they consider the drug court the next step in addressing the problem. Hampton expressed confidence that the special court for hearing drug cases will have a positive effect.
And council approved the following year-end transfers:
County General Fund – sheriff: $79.95 from insurance payment to repairs and maintenance, and $11 from part-time civil to plainclothes officers.
County General Fund – coroner: $1,200 from emergency supplies and $1,500 from fuel to payroll, deputy.
Health Department: $4,500 from retirement contributions and $4,000 from social security contributions to group medical insurance.
County General – maintenance: $25,968 from housekeeping to part-time, since County Administrator Ron Robinson said the department now relies solely on part-time employees.
Drug and Alcohol User Fee: $20 from group insurance to retirement contributions.
County General – treasurer: $3,200 from treasurer to part-time.
Cumulative Reassessment: $2,300 from group insurance to social security.
Council also approved several additional appropriations:
Employee Health Insurance: $2,500 for employee clinic medications and $2,500 for employee clinic labs.
Problem Solving Court Fee: $4,075 for computer software.
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The $500,000 additional appropriation from the Economic Development Income Tax fund for widening North CR 100E between county roads East 1300N and East 1400N, bordering the construction site of Trupointe Cooperative Inc., will be paid back through Trupointe’s purchase of the county’s bond.
The 20-year bond, worth $1.54 million and which the county Redevelopment Commission approved earlier Thursday, is expected to be closed on by Nov. 27. The bond comes at no risk to the county because Trupointe will purchase it with its own cash, county Attorney Mike Miner told the council.
The road widening will resume in spring on the south side of the railroad bridge, County Highway Superintendent Scott Tilden told the council. Miner said that after the road is completed and paid for, any extra revenue from the Tax Increment Finance District the county established around Trupointe can be put toward other improvements in the district.
The district captures additional tax value from land improvements the company makes, such as construction, into a fund to be used for infrastructure development in the area, Miner told the council. Existing tax value in the district is still collected by the county as usual.
The Redevelopment Commission began Thursday discussing just what the county can do in a TIF district, such as road, sewer and water line improvements, and possibly land acquisition. It will establish guidelines to be approved at a later meeting, but members expressed a desire to be as generic as possible to allow for all possible potential uses.
The 1,104-acre, 25-year TIF district north of Milford is expected to capture about $411,000 a year for infrastructure improvements, the Redevelopment Commission heard in April when adopting the confirmatory resolution. Todd Samuelson, a partner with Umbaugh and Associates, said at that meeting the TIF is expected to generate about $1.7 million above the cost of road widening.
Also Thursday, the council heard that the Kosciusko Coalition on Drug Enforcement will be shifting its investments from certain community awareness efforts to the county drug court. K-CODE will continue to hold town hall meetings, but will scale back expenses such as methamphetamine-awareness billboards, which cost $15,000 to $16,000 a year.
Heather Desenberg, K-CODE coordinator, and County Prosecutor Dan Hampton told the council that while they’re not backing off on meth awareness, they do have to reallocate dwindling resources and they consider the drug court the next step in addressing the problem. Hampton expressed confidence that the special court for hearing drug cases will have a positive effect.
And council approved the following year-end transfers:
County General Fund – sheriff: $79.95 from insurance payment to repairs and maintenance, and $11 from part-time civil to plainclothes officers.
County General Fund – coroner: $1,200 from emergency supplies and $1,500 from fuel to payroll, deputy.
Health Department: $4,500 from retirement contributions and $4,000 from social security contributions to group medical insurance.
County General – maintenance: $25,968 from housekeeping to part-time, since County Administrator Ron Robinson said the department now relies solely on part-time employees.
Drug and Alcohol User Fee: $20 from group insurance to retirement contributions.
County General – treasurer: $3,200 from treasurer to part-time.
Cumulative Reassessment: $2,300 from group insurance to social security.
Council also approved several additional appropriations:
Employee Health Insurance: $2,500 for employee clinic medications and $2,500 for employee clinic labs.
Problem Solving Court Fee: $4,075 for computer software.
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