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The Warsaw Redevelopment Commission received updates regarding the city's tax increment financing districts Monday.
City planner Jeff Noffsinger presented lists of property owners in each district and their share of the tax, assessed at 1.52949 percent for 2002, pay 2003. The central, or downtown area, TIF district levy will "capture" $222,984; the northern district levy will garner $688,378, with $210,800 of that paid to Medtronic.
When Medtronic-Sofamor Danek moved north of U.S. 30, they paid for infrastructure improvements and are given biannual payments.
The automatic levy also has been engaged, Noffsinger said. The additional tax, to all city property owners, makes up for loss of income to the district because of the reduction in the school levy. The rate is 0.0147 percent for a certified levy of $152,497.
The automatic levy brings in $37,030 for the central district and $116,007 for the northern district.
The end-of-year balance for the central district will be $322,009, and $768,825 for the northern district.
The commissioners discussed applying excess funds toward the sewage bond for construction at the new facility.
In other business, the board:
• Heard McKinley Street, which runs through the former Interurban Railroad/Gatke property, is open to traffic.
Noffsinger said several parties have expressed an interest in developing the property. Bid specifications are expected early next year for the lease of the property.
• All members were asked by Mayor Ernie Wiggins to serve another one-year term on the commission, to which they agreed.
• Approved claims of $108 to Valentine and Miner and to Midwest Tile, $400 and $4,911.
Commission members are Neal Carlson, John Elliott, Jerome Kralis and Charlie Smith. Tammy Rockey was absent.
