Milford TIF Plans Gaining Ground
July 28, 2016 at 4:25 p.m.
Plans for a TIF district near Milford gained momentum Thursday with the blessing of Kosciusko County Council.
A third presentation in less than two weeks appears to have molded support for a proposal presented by Maple Leaf Farms for road improvements near its plant on county roads 200E and 900N.
Although the plan is the first heard by Kosciusko County officials, tax increment finance districts already exist in three incorporated areas within the county - Warsaw, Milford, Pierceton - and another is planned in Winona Lake.
According to information supplied by Rich Hill, a consultant with Baker and Daniels, TIF's popularity is as strong locally as any other part of the state.
Forty to 50 communities in Indiana have established the economic financial development tool, he said.
County officials have already said they expect more proposals to surface since the county jurisdiction is countywide. Future proposals would be specifically reviewed by the redevelopment commission, a five-member board being formed.
After some light grilling by council member Lewis Bertsch, who simultaneously commended Maple Leaf and the proposal, council approved the plans unanimously.
TIF serves as a temporary re-allocation of new tax revenues for a specific project and time period.
Establishment of the redevelopment commission is the first of a few preliminary steps needed before March 1 to enable the county to finance road improvements near the plant and capitalize on entire revenues from improved tax assessment from the plant's expansion.
In the case of Maple Leaf, proposed expansion at the plant will provide tax revenues to cover most of the cost of nearly $1 million in road improvements to county roads 900N and 200E.
The county has pledged about $35,000. Maple Leaf is seeking up to $200,000 in grant money from the state and hopes to finance the rest with TIF.
The commissioners are expected to make appointments to the new board when they meet Feb. 18.
In another issue, council reassured representatives of the county's Convention and Visitors Bureau that it would turn over about $140,000 that has accumulated since 1987 when the county innkeeper's tax was established.
The money will likely be turned over next month. Officials specifically asked to see an annual budget and plans for the use of the accumulated money. CVB officials said they plan to comply.
Council president James Tranter made the request based on state law.
Candi Wolkins, president of the CVB board, said the organization is seeking to expand and possibly relocate from its offices inside the Warsaw-Kosciusko County Chamber facility on South Buffalo Street.
Although some officials believed the issue of the City-County Athletic Complex would be discussed, the issue never surfaced. On Tuesday, the commissioners voted 2-1 to support a one-time $50,000 appropriation to the public sports facility west of Warsaw.
The issue will likely be discussed at next month's council meeting. [[In-content Ad]]
Plans for a TIF district near Milford gained momentum Thursday with the blessing of Kosciusko County Council.
A third presentation in less than two weeks appears to have molded support for a proposal presented by Maple Leaf Farms for road improvements near its plant on county roads 200E and 900N.
Although the plan is the first heard by Kosciusko County officials, tax increment finance districts already exist in three incorporated areas within the county - Warsaw, Milford, Pierceton - and another is planned in Winona Lake.
According to information supplied by Rich Hill, a consultant with Baker and Daniels, TIF's popularity is as strong locally as any other part of the state.
Forty to 50 communities in Indiana have established the economic financial development tool, he said.
County officials have already said they expect more proposals to surface since the county jurisdiction is countywide. Future proposals would be specifically reviewed by the redevelopment commission, a five-member board being formed.
After some light grilling by council member Lewis Bertsch, who simultaneously commended Maple Leaf and the proposal, council approved the plans unanimously.
TIF serves as a temporary re-allocation of new tax revenues for a specific project and time period.
Establishment of the redevelopment commission is the first of a few preliminary steps needed before March 1 to enable the county to finance road improvements near the plant and capitalize on entire revenues from improved tax assessment from the plant's expansion.
In the case of Maple Leaf, proposed expansion at the plant will provide tax revenues to cover most of the cost of nearly $1 million in road improvements to county roads 900N and 200E.
The county has pledged about $35,000. Maple Leaf is seeking up to $200,000 in grant money from the state and hopes to finance the rest with TIF.
The commissioners are expected to make appointments to the new board when they meet Feb. 18.
In another issue, council reassured representatives of the county's Convention and Visitors Bureau that it would turn over about $140,000 that has accumulated since 1987 when the county innkeeper's tax was established.
The money will likely be turned over next month. Officials specifically asked to see an annual budget and plans for the use of the accumulated money. CVB officials said they plan to comply.
Council president James Tranter made the request based on state law.
Candi Wolkins, president of the CVB board, said the organization is seeking to expand and possibly relocate from its offices inside the Warsaw-Kosciusko County Chamber facility on South Buffalo Street.
Although some officials believed the issue of the City-County Athletic Complex would be discussed, the issue never surfaced. On Tuesday, the commissioners voted 2-1 to support a one-time $50,000 appropriation to the public sports facility west of Warsaw.
The issue will likely be discussed at next month's council meeting. [[In-content Ad]]