Wednesday, April 05, 2006

All Three TIF Districts Approved Leaving Out Town of St. Leon Property

5 April 2006 Dearborn County Redevelopment Commission Meeting Notes

Present: Rahe, Chairman, West, Maxwell, and Hughes.
Absent: Benning
Also present: Messmore, County Adm, McCormack, Planning Director, Rozow, Chamber of Commerce, and Butler, Attorney.

Rick Hall of Barnes and Thornburgh presented the intro and noted this was the final step in establishing the TIF districts.
Jim Higgins, CPA- presented the impact assessment that was sent 10 days certified mail, prior to the hearing to each taxing entity. He noted there were 2 schedules on the back of each. One is a list of all the parcels in the district and the assessed values of each. Schedule B walked them thru 4 scenarios of impact on the taxing entities. Assuming a $1M improvement in a district it could capture $23,490 of taxes. If they elect to capture only 50% they would yield $11,745 for that $1 M investment. If they don’t capture it at all that money gets spread to each entity at 1/3 cent per $100 assessed value for the $1M improvement.

Maxwell asked about deciding who gets the portion if they don’t elect to capture it all. The answer was that they cannot selectively decide who benefits. (for example the schools vs. some other tax recipients)

It was noted that they shouldn’t bounce around with capturing percentages as it is a difficult process for eth taxing entities and this would generate more work.
They can capture 100% in the beginning and taper off as the taxes are not needed for infrastructure as time goes on.

West asked about SE IND beverage- he thought they should have capturable income in 2006. Higgins said it wasn’t in the data he analyzed. West wanted that on the record.

The only public comment was from Terry Boedekker of St. Leon. He wanted to be sure the TIF was not taking in land in St. Leon itself now.

The Redevelopment proposals redrew the lines to exclude St. Leon property in the final vote as St. Leon has it’s own Redevelopment Commission now.

All three districts were unanimously approved noting that St. Leon property was eliminated.

Meeting adjourned at 10:25 AM

Christine Brauer Mueller
Lawrenceburg Township

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