Warsaw Redevelopers, Planners Approve Creating Eastern TIF District
Posted
Jennifer Peryam-jperyam@timesuniononline.com
Warsaw Redevelopment Commission and Plan Commission approved creating an Eastern Tax Increment Finance Economic Development Area during its meetings Monday.
The district includes the property where the new Meijer store is being constructed at Anchorage Road and U.S. 30, and adjacent property to the east purchased by the Kosciusko YMCA.
It also includes Biomet and a 13-acre tract of land bordered by Anchorage Road and U.S. 30 that will be the site of a new commercial development.
The TIF district will need to be reviewed by the city council at its Sept. 17 meeting, and a hearing will need to be scheduled when the redevelopment commission will have final review.
The district enables the city to collect property tax revenues on new assessed value.
During Monday night’s Warsaw Plan Commission meeting, Warsaw City Planner Jeremy Skinner said there has been increased pressure to develop in the area for the last year and a half to two years.
There also has been pressure for the city to provide sanitary sewer and water services north of U.S. 30 that will eventually serve the Warsaw Municipal Airport.
“The city feels the creation of this eastern TIF district will allow the capture of the funds to complete this project,” Skinner said.
The TIF district creation also will allow the city to upgrade Anchorage Road, CR 200N and Bell Drive.
