City Looks To Complete 2nd Phase Of Certified Technology Park
July 5, 2017 at 3:36 p.m.
By David [email protected]
Monday, the board approved its six 2018 proposed budgets, which include money for the phase II work, after City Planner Jeremy Skinner gave a rundown of each one. The city council also must approve the budgets.
The Warsaw Certified Technology Park consists of about 95 acres currently under development. Located adjacent to U.S. 30, it is zoned industrial and is located behind Ivy Tech Community College.
For the Northern Tax Increment Finance District budget, the beginning balance for 2017 was a little over $6 million. Its expected revenue for this year is $3 million, providing the Northern TIF with $9,038,691. The budget for 2017 was a little over $3.5 million, with $1.7 million of that planned for Tech Park phase II, but the same amount for the park was put into the 2018 budget in case the city didn’t get to phase II this year, Skinner explained.
“For 2018, our big project next year will be the completion of phase II. We have some money in there this year so if we get to that point this year, we’ll be covered. If we don’t, we’ll have it in for next year,” he said.
If the project is started this year, he said it probably wouldn’t be completed until 2018. The $1.7 million budgeted for 2018 will pay for the project.
Total Northern TIF budget for 2018 is $3,551,495.63, leaving a year-end balance of $4,949,533.12.
The second budget was for the Warsaw Technology Park. End of 2016, the balance for it was $353,407, with the 2017 expected revenue totaling $250,000 for total funds for 2017 of $603,407. The 2017 budget is $167,000, leaving a balance of $436,407 for the start of 2018. Expected revenue for 2018 also is $250,000, putting a total of $686,407 into the fund. The 2018 proposed budget is $292,000, with $200,000 of that going toward phase II of the tech park as well as any signage needs, Skinner said.
The Redevelopment General is the operating fund for the Redevelopment Commission, Skinner said. The budget has its own tax rate, which is a part of the city’s tax rate, Skinner explained.
The general fund had a balance at the end of 2016 of $408,039, with $95,000 expected in revenue this year, providing for total 2017 funds of $503,039. The 2017 budget is $171,925, which should leave $331,114 in the fund for 2018. Expected revenue for 2018 also is $95,000, which should give the commission $426,114 in total funds for next year.
Skinner budgeted $131,925 for the redevelopment general 2018 fund, which should leave a year-end balance for 2018 at $294,189.
Its 2018 budget includes $100,000 for any infrastructure project the commission wants to do, Skinner said. “Keep in mind that the Redevelopment General is across the whole city,” so the money can be used for any project in the city. He said that money may be used for sidewalks near the new Lincoln Elementary School.
The Eastern TIF District’s 2016 year-end balance was $414,061.56, with expected 2017 revenue of $400,000. Total funds for 2017 is $814,062, with a budget this year of $200,000, leaving $614,061.56 for 2018. Another $400,000 in revenue is expected for the fund in 2018, putting total 2018 funds at a little over $1 million.
The budget out of the Eastern TIF for 2018 is $600,000, which includes $100,000 for engineering, $50,000 for property acquisition and $450,000 for infrastructure projects.
“Our big project in the Eastern TIF District obviously has been and will be trying to annex the Airport Industrial Park and extend our sanitary sewer infrastructure within that industrial park,” Skinner said.
H.J. Umbaugh & Associates is working on a fiscal plan for the annexation, which Skinner estimated should be completed within the next couple of months. There will be a public hearing process for the annexation, followed by the actual annexation of the property into the city.
“Then we would extend the Eastern and Northern TIF districts in that region to help us support the bond issue so we can try to figure out how to get that bond issue for that Eastern TIF District to start our infrastructure projects,” Skinner said.
The annexation area in general is between the current airport and U.S. 30. It includes the whole industrial park, and is about 400 acres from CR 200N to 250N, but may change during the public hearing process.
The smallest budget of the six is the Winona Interurban fund. Its 2016 year-end balance was $30,661.17 with 2017 revenue including a grant expected at $16,800, amounting to 2017 total funds of $47,461. The 2017 budget is $5,000, leaving $42,461.17 for 2018. Expected revenue for 2018 is $5,800, putting 2018 total funds at $48,261. The budget for next year for the fund is $40,000 for any project that might occur at the old Gatke property.
The last budget the commission approved was the Redevelopment Allocation. Its balance at the beginning of this year was $537,283, with expected revenue of $310,000, putting total expected 2017 funds at $847,283. The 2017 budget is $411,050, leaving $436,233 for 2018.
Expected revenue for 2018 is $310,000, putting the total of funds for 2018 at $746,233. The 2018 budget for it is $620,985, which will leave $125,248 for 2019.
Of the 2018 budget, $400,000 will go specifically toward the Buffalo Street plaza project at Center Lake.
“The intent right now is that we would bid out the Buffalo Street, which is the (underground infrastructure), this year. That will be covered by the bond money. And then next year, 2018, the plaza engineering over the next six months. Hopefully, have that ready for a spring project, to complete the plaza to go along with this Buffalo Street project,”?Skinner said.
All six budgets were unanimously approved by the commission.
In other business, the Redevelopment Commission:
• Approved claims, including payments for three Winona PVD bond issues from Huntington National Bank for $18,712.50, $91,372.50 and $138,042.50; Huntington National Bank, annual administration fee for the Buffalo Street bond, $950; Barnes & Thornburg LLP, Redevelopment and Economic Development legal matters with Randy Rompola for the extension to the Central TIF District recently completed, $4,981.13; John Kimpel & Associates Inc., tax increment finance descriptions, $910; two payments to Wessler Engineering for the ongoing wastewater treatment utility plan expansion preliminary engineering report, process and electrical designs, $63,151.43 and $60,374.14; OrthoWorx Inc., establishment of AcceLinx (a multistage medical device orthopedic business accelerator), second of five annual payments, $67,000; G&G Hauling & Excavating Inc., CR 300N trail project, $143,174.60; and Clounie Landscaping Inc., sidewalk improvement along Indiana and Center streets in front of Lake City Bank, $42,013.
Another item approved in claims was for the seal coating of Polk Drive, which was approved by the commission at its June meeting for an estimated $15,000, but the final price came in at $11,400, below the estimate. The commission approved the reduced claim.
• Reviewed the OrthoWorx/AcceLinx annual progress report.
Monday, the board approved its six 2018 proposed budgets, which include money for the phase II work, after City Planner Jeremy Skinner gave a rundown of each one. The city council also must approve the budgets.
The Warsaw Certified Technology Park consists of about 95 acres currently under development. Located adjacent to U.S. 30, it is zoned industrial and is located behind Ivy Tech Community College.
For the Northern Tax Increment Finance District budget, the beginning balance for 2017 was a little over $6 million. Its expected revenue for this year is $3 million, providing the Northern TIF with $9,038,691. The budget for 2017 was a little over $3.5 million, with $1.7 million of that planned for Tech Park phase II, but the same amount for the park was put into the 2018 budget in case the city didn’t get to phase II this year, Skinner explained.
“For 2018, our big project next year will be the completion of phase II. We have some money in there this year so if we get to that point this year, we’ll be covered. If we don’t, we’ll have it in for next year,” he said.
If the project is started this year, he said it probably wouldn’t be completed until 2018. The $1.7 million budgeted for 2018 will pay for the project.
Total Northern TIF budget for 2018 is $3,551,495.63, leaving a year-end balance of $4,949,533.12.
The second budget was for the Warsaw Technology Park. End of 2016, the balance for it was $353,407, with the 2017 expected revenue totaling $250,000 for total funds for 2017 of $603,407. The 2017 budget is $167,000, leaving a balance of $436,407 for the start of 2018. Expected revenue for 2018 also is $250,000, putting a total of $686,407 into the fund. The 2018 proposed budget is $292,000, with $200,000 of that going toward phase II of the tech park as well as any signage needs, Skinner said.
The Redevelopment General is the operating fund for the Redevelopment Commission, Skinner said. The budget has its own tax rate, which is a part of the city’s tax rate, Skinner explained.
The general fund had a balance at the end of 2016 of $408,039, with $95,000 expected in revenue this year, providing for total 2017 funds of $503,039. The 2017 budget is $171,925, which should leave $331,114 in the fund for 2018. Expected revenue for 2018 also is $95,000, which should give the commission $426,114 in total funds for next year.
Skinner budgeted $131,925 for the redevelopment general 2018 fund, which should leave a year-end balance for 2018 at $294,189.
Its 2018 budget includes $100,000 for any infrastructure project the commission wants to do, Skinner said. “Keep in mind that the Redevelopment General is across the whole city,” so the money can be used for any project in the city. He said that money may be used for sidewalks near the new Lincoln Elementary School.
The Eastern TIF District’s 2016 year-end balance was $414,061.56, with expected 2017 revenue of $400,000. Total funds for 2017 is $814,062, with a budget this year of $200,000, leaving $614,061.56 for 2018. Another $400,000 in revenue is expected for the fund in 2018, putting total 2018 funds at a little over $1 million.
The budget out of the Eastern TIF for 2018 is $600,000, which includes $100,000 for engineering, $50,000 for property acquisition and $450,000 for infrastructure projects.
“Our big project in the Eastern TIF District obviously has been and will be trying to annex the Airport Industrial Park and extend our sanitary sewer infrastructure within that industrial park,” Skinner said.
H.J. Umbaugh & Associates is working on a fiscal plan for the annexation, which Skinner estimated should be completed within the next couple of months. There will be a public hearing process for the annexation, followed by the actual annexation of the property into the city.
“Then we would extend the Eastern and Northern TIF districts in that region to help us support the bond issue so we can try to figure out how to get that bond issue for that Eastern TIF District to start our infrastructure projects,” Skinner said.
The annexation area in general is between the current airport and U.S. 30. It includes the whole industrial park, and is about 400 acres from CR 200N to 250N, but may change during the public hearing process.
The smallest budget of the six is the Winona Interurban fund. Its 2016 year-end balance was $30,661.17 with 2017 revenue including a grant expected at $16,800, amounting to 2017 total funds of $47,461. The 2017 budget is $5,000, leaving $42,461.17 for 2018. Expected revenue for 2018 is $5,800, putting 2018 total funds at $48,261. The budget for next year for the fund is $40,000 for any project that might occur at the old Gatke property.
The last budget the commission approved was the Redevelopment Allocation. Its balance at the beginning of this year was $537,283, with expected revenue of $310,000, putting total expected 2017 funds at $847,283. The 2017 budget is $411,050, leaving $436,233 for 2018.
Expected revenue for 2018 is $310,000, putting the total of funds for 2018 at $746,233. The 2018 budget for it is $620,985, which will leave $125,248 for 2019.
Of the 2018 budget, $400,000 will go specifically toward the Buffalo Street plaza project at Center Lake.
“The intent right now is that we would bid out the Buffalo Street, which is the (underground infrastructure), this year. That will be covered by the bond money. And then next year, 2018, the plaza engineering over the next six months. Hopefully, have that ready for a spring project, to complete the plaza to go along with this Buffalo Street project,”?Skinner said.
All six budgets were unanimously approved by the commission.
In other business, the Redevelopment Commission:
• Approved claims, including payments for three Winona PVD bond issues from Huntington National Bank for $18,712.50, $91,372.50 and $138,042.50; Huntington National Bank, annual administration fee for the Buffalo Street bond, $950; Barnes & Thornburg LLP, Redevelopment and Economic Development legal matters with Randy Rompola for the extension to the Central TIF District recently completed, $4,981.13; John Kimpel & Associates Inc., tax increment finance descriptions, $910; two payments to Wessler Engineering for the ongoing wastewater treatment utility plan expansion preliminary engineering report, process and electrical designs, $63,151.43 and $60,374.14; OrthoWorx Inc., establishment of AcceLinx (a multistage medical device orthopedic business accelerator), second of five annual payments, $67,000; G&G Hauling & Excavating Inc., CR 300N trail project, $143,174.60; and Clounie Landscaping Inc., sidewalk improvement along Indiana and Center streets in front of Lake City Bank, $42,013.
Another item approved in claims was for the seal coating of Polk Drive, which was approved by the commission at its June meeting for an estimated $15,000, but the final price came in at $11,400, below the estimate. The commission approved the reduced claim.
• Reviewed the OrthoWorx/AcceLinx annual progress report.
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