Winona Lake Looks To Expand Tax Increment Finance District
May 10, 2018 at 4:49 p.m.
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Town Coordinator Craig Allebach provided the Winona Lake Redevelopment Commission with a proposed timetable on the TIF expansion at its meeting Wednesday.
The changes could be complete by April 20, 2019.
Discussion at Wednesday’s meeting was the first date on the timetable, followed by the commission adopting the amending declaratory resolution by June 11.
“Which, when the TIF district was first established, we had a declaratory resolution. In that resolution, it also lays out what the boundaries of the TIF area is,” Allebach said.
On June 18, the plan commission would then adopt the order approving the amendment to the plan, with the town council adopting a similar resolution on June 19.
A notice of public hearing on the resolution would be delivered June 20 to local newspapers for publication, with the notice being published June 27.
The commission would hold a public hearing on the expansion of the area on July 9 and adopt the resolution. Eight days later, the town council would adopt the resolution approving the expansion. The final steps involve recording the resolution by the county recorder on April 30 and forwarding of information to the county auditor and Indiana Department of Local Government Finance.
“What you can do is one of two things. First of all, you have what they call an economic development area, and then you have a tax allocation area. You can do one of two things – you can expand the current TIF district, so you have one district. When you do that, you can use monies from the new district as well as the old district so it’s like one pot of money. The other alternative is to have two separate districts, each of them having a pot of money separated,” Allebach said.
He said he told Lisa Lee, an attorney helping with the expansion, that he thought the commission would want to keep the pots of money separate to show distinguishment between The Village at Winona TIF and the other.
“I’m pretty sure she said, too, that you can use monies in both of those like they were one, even though they would still be separate, so there would be two separate pots of money where the TIF would be from,” he said.
He thought The Village would probably want to keep their money generated by the TIF separate from the new area money.
Jim Lancaster, Commission member, asked if the current TIF district was only inclusive of The Village area. Allebach said that was correct.
He then showed the Commission a map of the current TIF district, followed by pointing out areas and parcels that the commission may want to include in the expansion of the TIF district.
By the end of the discussion, Allebach said he would get someone with more skill than him to put it all together for the commission’s consideration.
Town Coordinator Craig Allebach provided the Winona Lake Redevelopment Commission with a proposed timetable on the TIF expansion at its meeting Wednesday.
The changes could be complete by April 20, 2019.
Discussion at Wednesday’s meeting was the first date on the timetable, followed by the commission adopting the amending declaratory resolution by June 11.
“Which, when the TIF district was first established, we had a declaratory resolution. In that resolution, it also lays out what the boundaries of the TIF area is,” Allebach said.
On June 18, the plan commission would then adopt the order approving the amendment to the plan, with the town council adopting a similar resolution on June 19.
A notice of public hearing on the resolution would be delivered June 20 to local newspapers for publication, with the notice being published June 27.
The commission would hold a public hearing on the expansion of the area on July 9 and adopt the resolution. Eight days later, the town council would adopt the resolution approving the expansion. The final steps involve recording the resolution by the county recorder on April 30 and forwarding of information to the county auditor and Indiana Department of Local Government Finance.
“What you can do is one of two things. First of all, you have what they call an economic development area, and then you have a tax allocation area. You can do one of two things – you can expand the current TIF district, so you have one district. When you do that, you can use monies from the new district as well as the old district so it’s like one pot of money. The other alternative is to have two separate districts, each of them having a pot of money separated,” Allebach said.
He said he told Lisa Lee, an attorney helping with the expansion, that he thought the commission would want to keep the pots of money separate to show distinguishment between The Village at Winona TIF and the other.
“I’m pretty sure she said, too, that you can use monies in both of those like they were one, even though they would still be separate, so there would be two separate pots of money where the TIF would be from,” he said.
He thought The Village would probably want to keep their money generated by the TIF separate from the new area money.
Jim Lancaster, Commission member, asked if the current TIF district was only inclusive of The Village area. Allebach said that was correct.
He then showed the Commission a map of the current TIF district, followed by pointing out areas and parcels that the commission may want to include in the expansion of the TIF district.
By the end of the discussion, Allebach said he would get someone with more skill than him to put it all together for the commission’s consideration.
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