Retiring Economic Development Director Talks About Housing
September 14, 2018 at 4:38 p.m.
Retiring Economic Development Director Talks About Housing
By Mark [email protected]
George Robertson said about 50 percent of first-time home buyers are 30 years old or younger, they haven’t saved a significant amount of money and usually have at least some student loan debt. To attract more skilled workers to the area, there needs to be attractive places to live for this demographic, he explained.
He said steps are being taken to address the issue, including annexations expanding Warsaw’s city limits.
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Robertson said his successor, Alan Tio, will start with KEDCo next week. Robertson announced his retirement in the spring, and he plans to work with Tio until Dec. 31.
The board is required by state law to give an annual update on the status of tax increment financing districts within the county. Joni Truex, with the help of the county auditor’s office, compiled the report and presented her findings Thursday.
Three of the seven TIF districts (Leesburg, Trupointe and Co-op) have negative balances. Leesburg and Co-op are in debt to the CEDIT fund, while Trupointe owes the bond bank. All revenues generated by those TIFs are going toward repaying those balances.
The Dreyfus TIF bond owes its holders $3,685,233.
Of the other three, Dreyfus TIF has $194,485 and will allocate $111,614 for the extension of the Cauffman drain, which will alleviate flooding in the area. The 30 West TIF has a balance of $39,496 and the Van Buren TIF has $360,057. Future use of those funds will be discussed at the December meeting and in 2019.
Truex said tentative ideas on permitted use for the funds include allowing funds to grow to meet future needs, potential manufacturing or service industries looking to relocate to the county, site acquisition and funding of public infrastructure.
The board approved its 2019 schedule as well. It will continue to meet the second Thursday of the third month in a quarter but agreed to change meeting times to 1:30 p.m. beginning March 14. Other meeting dates are June 13, Sept. 12 and Dec. 12. The board will hold a brief state-mandated meeting at 1 p.m. Jan. 2.
The next redevelopment commission meeting will be at 1 p.m. Dec. 13 in the county commission room of the courthouse.
George Robertson said about 50 percent of first-time home buyers are 30 years old or younger, they haven’t saved a significant amount of money and usually have at least some student loan debt. To attract more skilled workers to the area, there needs to be attractive places to live for this demographic, he explained.
He said steps are being taken to address the issue, including annexations expanding Warsaw’s city limits.
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Robertson said his successor, Alan Tio, will start with KEDCo next week. Robertson announced his retirement in the spring, and he plans to work with Tio until Dec. 31.
The board is required by state law to give an annual update on the status of tax increment financing districts within the county. Joni Truex, with the help of the county auditor’s office, compiled the report and presented her findings Thursday.
Three of the seven TIF districts (Leesburg, Trupointe and Co-op) have negative balances. Leesburg and Co-op are in debt to the CEDIT fund, while Trupointe owes the bond bank. All revenues generated by those TIFs are going toward repaying those balances.
The Dreyfus TIF bond owes its holders $3,685,233.
Of the other three, Dreyfus TIF has $194,485 and will allocate $111,614 for the extension of the Cauffman drain, which will alleviate flooding in the area. The 30 West TIF has a balance of $39,496 and the Van Buren TIF has $360,057. Future use of those funds will be discussed at the December meeting and in 2019.
Truex said tentative ideas on permitted use for the funds include allowing funds to grow to meet future needs, potential manufacturing or service industries looking to relocate to the county, site acquisition and funding of public infrastructure.
The board approved its 2019 schedule as well. It will continue to meet the second Thursday of the third month in a quarter but agreed to change meeting times to 1:30 p.m. beginning March 14. Other meeting dates are June 13, Sept. 12 and Dec. 12. The board will hold a brief state-mandated meeting at 1 p.m. Jan. 2.
The next redevelopment commission meeting will be at 1 p.m. Dec. 13 in the county commission room of the courthouse.
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