Commission Approves Plain, Wayne Townships For Tax Increment Levies
Posted
Jennifer Peryam-jperyam@timesuniononline.com
The Warsaw Redevelopment Commission approved tax increment and levy rates for Plain and Wayne townships during its meeting Monday.
The tax increment replacement amount for Plain Township is $97,065.27, and the tax increment replacement for Wayne Township is $30,984.02.
The qualified tax increment replacement amount is $128,049 and the total assessed value is $957,444,300. The tax rate is $0.0133 and the certified levy is $127,340.
The tax increments replace the amount schools take out for their tax increment finance district, according to Community Development Coordinator Gisele Cox.
The commission also approved five redevelopment claims for Lake City Bank for a 1991 TIF bond final fee of $133; Ken Herceg & Associates for professional services at Ind. 15 and CR 300 improvements at $2,684; claims for IFA Brownfields for Gatke project renovations at $4,840.69 and $1,273.24; and Medtronic Asset Management for principal and interest on a Warsaw Economic Development Bond at $117,400.
The Gatke Property, 2321 E. Winona Ave, also was discussed during Monday's meeting.
City Planner Jeremy Skinner presented a letter to commission members during the April 2 meeting from Indiana Department of Environmental Management.
The letter stated the city is exempt from liability for groundwater contamination, and a restriction prohibiting the use of the property for residential purposes must be placed with the property deed.
The commission requested at its April 2 meeting that Skinner see if the letter was recorded at the Kosciusko County Recorder's Office. Skinner said Monday he found no record of the letter at the office.
The letter states that in order for the letter to be valid, it must be recorded at the office.
Skinner said he will speak with IDEM this week to see if the letter can still be filed.
Commission member Charles Smith asked if there are any new developments along the Northern Tax Increment Finance District along Ind. 15.
Skinner said Teacher's Credit Union is looking at a lot along Ind. 15 and CR 350.
Commission members are Smith, Tammy Rockey, Savina Kralis, Neal Carlson and Kyle Babcock.
