Redevelopment Commission Discusses Next Steps For Proposed TIF
January 4, 2023 at 12:27 a.m.
By Caleigh Byrer-
TIF districts allow tax revenues to be captured and used for a specific purpose. As Etna Green does not have their own redevelopment commission, the proposed Etna Green TIF is the responsibility of the County Commission to oversee.
The Etna Green project is a roughly 20- to 30-acre project, adjacent to Heritage Park, that has already received approval from Triton School Board.
The Redevelopment Commissioners noted that these matters go through school boards because they may lose a small portion of funding, but student count often increases when a new residential area is made within their district, offsetting the loss.
Redevelopment Commission attorney Adam Turner stated that the next steps for both projects will be on a tight timeline as the Area Plan Commission meeting is Wednesday, Jan. 4 and the APC will receive a copy of the declaratory resolution, the residential development plan and create a resolution of their own to decide if the proposed Etna Green TIF will proceed.
If approval is received from the APC, it will be sent on to the Etna Green Town Council. The resolutions will appear back in front of the Redevelopment Commission at the March 9 meeting. This is the point at which the proposal may receive the designation of residential TIF.
"We're trying to spur a developer ... you have different tools at your disposal to help incentivize development in that area on behalf of Etna Green," Turner told the Redevelopment Commission.
There was no one to speak in favor of or against the Etna Green TIF. Kosciusko Economic Development Corporation (KEDCO) Project Director Terry Sweeney spoke in favor of the South Shore residential TIF with no opposition.
In other business, the Redevelopment Commission:
• Reinstated Joni Truex as president, Jan Orban as vice president and Doug Hanes as secretary.
• Renewed a contract with Turner with the conditions of a $2,000 retainer and rate of $200 per hour.
• Planned to coordinate a meeting with KEDCO representatives, Hanes and Truex for further discussion on creating an agreement.
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TIF districts allow tax revenues to be captured and used for a specific purpose. As Etna Green does not have their own redevelopment commission, the proposed Etna Green TIF is the responsibility of the County Commission to oversee.
The Etna Green project is a roughly 20- to 30-acre project, adjacent to Heritage Park, that has already received approval from Triton School Board.
The Redevelopment Commissioners noted that these matters go through school boards because they may lose a small portion of funding, but student count often increases when a new residential area is made within their district, offsetting the loss.
Redevelopment Commission attorney Adam Turner stated that the next steps for both projects will be on a tight timeline as the Area Plan Commission meeting is Wednesday, Jan. 4 and the APC will receive a copy of the declaratory resolution, the residential development plan and create a resolution of their own to decide if the proposed Etna Green TIF will proceed.
If approval is received from the APC, it will be sent on to the Etna Green Town Council. The resolutions will appear back in front of the Redevelopment Commission at the March 9 meeting. This is the point at which the proposal may receive the designation of residential TIF.
"We're trying to spur a developer ... you have different tools at your disposal to help incentivize development in that area on behalf of Etna Green," Turner told the Redevelopment Commission.
There was no one to speak in favor of or against the Etna Green TIF. Kosciusko Economic Development Corporation (KEDCO) Project Director Terry Sweeney spoke in favor of the South Shore residential TIF with no opposition.
In other business, the Redevelopment Commission:
• Reinstated Joni Truex as president, Jan Orban as vice president and Doug Hanes as secretary.
• Renewed a contract with Turner with the conditions of a $2,000 retainer and rate of $200 per hour.
• Planned to coordinate a meeting with KEDCO representatives, Hanes and Truex for further discussion on creating an agreement.
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