KOSCIUSKO — Business at the Kosciusko County Redevelopment Commission quarterly meeting held Thursday, Sept. 13, focused on TIF district updates and 2019 meeting dates.
To start the meeting, Kosciusko Economic Development Corporation President George Robertson delivered remarks on housing, including how student loan debt greatly affects millennials who are looking for an affordable place to live.
“We have 30-year-olds in the area who are still looking for affordable housing,” said Robertson.
Robertson also mentioned the need to bring developers into the state in order to further aid in developing housing areas.
Redevelopment Commission Secretary Joni Truex delivered the following TIF district updates to the commission.
For the Dreyfus TIF update, $111,614 was designated and approved for the extension of the Cauffman drain from Section Street to the west side of Clay Street and connect to the Cauffman drain in Claypool. This is to help lessen flooding in the area. The project was originally approved in 2017 and re-approved for 2018.
The balance in the 30 West TIF is accumulating. Future possible use will be discussed at the commission’s December meeting. The Van Buren TIF will also be discussed in December and continued at 2019 meetings.
The Leesburg and Co-Op TIFs are in debt to the CEDIT fund. All revenues are for repayment to the CEDIT/EDIT. The Trupointe TIF is also in debt to the bond bank. All revenues are for repayment of the bond.
TIFs are used in projects that help serve or benefit designated redevelopment or economic development areas. The commission agreed to discuss ideas on permitted usage for the TIFs at its December meeting. Current tentative ideas include: allowing the funs to grow to help meet potential future needs, site acquisition for private developments which includes purchasing land and necessary infrastructure, and funding of public infrastructure for roadways.
The Redevelopment Commission is required by law to annually present information to all taxing units that have territory within an allocation area of the commission.
To conclude the meeting, the commission voted on 2019 meeting dates. The commission will still meet on the second Thursday of the third month of every quarter. However, the meeting time will be changed to 1:30 p.m.
The Redevelopment Commission’s next meeting will be at 1 p.m. Thursday, Dec. 13.