Continuously serving Kosciusko County since 1854
Kosciusko County Redevelopment Commission reviewed two existing tax increment financing (TIF) units and heard an update from the Kosciusko Economic Development Corporation during a meeting on Tuesday.
The first TIF area reviewed by the commission was 30 West, which was established in 2015 with a 25-year duration. It extends between Warsaw and Etna Green, bordered north and south by U.S. 30 and Old 30. Its 2026 approved budget is $195,000, with a fund balance of $313,969.30.
"This TIF is going to be rather strategic with Slate (Auto)," said Commission President Doug Hanes. "We've already provided funding for the turn lanes and expansion of Old 30 in front of Slate. But, obviously, dollars related to this TIF will continue to support it."
Commission Member Dan Brown asked if there were any abatements on the 30 West TIF. County Auditor Alyssa Schmucker said there would be one for Slate, but that it doesn't start until 2027.
The commission also reviewed the Dreyfus TIF, which was established in 2006 with a 25-year duration. It's located in the Claypool area and has an approved budget cash fund of $360,700, with a fund balance of $531,728.86. The bond fund for the Dreyfus TIF has a cash balance of $229,993.13, with no remaining bond payment.
Schmucker said the bond fund will be rolled into the cash fund. Hanes told the commission members to keep themselves updated on Claypool's housing initiative, which involves KEDCO.
Dawn Wilkinson, KEDCO director of projects and operations, said they are collaborating with Club 720 for assistance on creative capital stacking for housing initiatives in both Claypool and Pierceton.
"They're not your typical development, not a private developer that's coming along to build something," said Wilkinson. "In these instances, the local governments are pivotal to the projects. In some instances, they've obtained land or it's been gifted to them, and they will assist the project by gifting the land to the project."
Wilkinson also provided updates on new businesses in the county, including Slate Auto, Autocam Medical and North Trace RV Resort.
"I go out about quarterly to take a tour (at Slate)," said Wilkinson. "I can share that they're on track, they're doing well and still on track to put trucks out at the end of this year. That (30 West) TIF is going to be very beneficial to the county."
Hanes also gave an update on the formation of a taskforce to evaluate existing TIFs and look at potential new markets for TIFs. He said the taskforce hasn't had any meetings, but that once they do, they will need to be publicized.
Taskforce members include Commission Secretary Dan Thystrup, Commission Vice President Jan Orban, Commission members Kevin Stone and Brad Johnson, and Wilkinson.
The Kosciusko County Commissioners asked the redevelopment commission to evaluate current TIFs and look at possibly forming new TIFs.
"The challenge is, with the (Senate Bill) 1 legislation, and how homes are assessed and how the county collects tax dollars and so forth, it's going to have a profound impact on TIFs," said Hanes. "The commissioners are stating that for the expansion of U.S. 30, the governor (Mike Braun) is wanting communities to put more of their own money into the project to make sure that it happens. The county is going to look at every use of available funds to support that, which could potentially include a TIF."
At the start of the meeting, oaths of office were also administered to Thystrup and Commission member Rachael Rhoades.
The commission's next meeting is at 1:30 p.m. June 2 in the Kosciusko County Courthouse.
