Agencies concerned by TIF districts
By CANDY NEAL
Different tax units have concerns about a proposed tax increase finance district in Jasper.
The county presents a letter to city officials expressing these concerns and requests. Commissioner Elmer Brames will speak to the Jasper Redevelopment Commission on the issue at its meeting, which is scheduled for Tuesday at 8 a.m.
Their concern “is not just the TIF district, but the TIF districts in general, and what that does to the revenues of other tax agencies,” Brames told county commissioners on Monday.
The Town of Jasper is currently considering creating a TIF neighborhood near the Vincennes University in Jasper. This is a University Heights project, which will involve a new apartment complex near the university campus. The TIF would also provide funding for future construction projects. The proposed district runs along National Highway 162 to beyond Third Avenue near Bohnert Park.
The Jasper Common Council approved the resolution for the district at its April 21 meeting, although Councilor Chad Lueken voted no.
When a TIF district is created or declared, a base estimated value is created, taxes from this assessed assessment will go to the agencies. But any increase in estimated value in that district will not accrue to those agencies, Brames said.
âHe’s basically saying that from now on, for at least the next 25 years, any increase in valuation assessed will not be shared by other county tax agencies,â he said. âIt’s captured by the redevelopment commission, and they’re using it for development in this area.
âSo they wouldn’t lose where they are today. But they would not share any increases. “
In the letter, the agencies ask that after capturing the necessary revenue set out in the intention of each FIT, the city begins to release some of the incremental assessment to be included in the tax base for other civilian tax units and begins to pass through excess income of up to 15% to civil tax units, which is permitted by Indiana code.
âIt’s not a large amount,â Brames said. “But that would show some concern on their part about the shortfall that other tax units receive.”
The agencies are also asking that city officials allow TIF districts to expire on a designated date.
In order for the TIF neighborhood to be established, the Jasper Redevelopment Commission must give confirmatory approval for the economic development area. The Jasper Economic Development Commission must also approve the project.
The Economic Development Commission was planning to hold a public hearing on the project today, but the meeting was postponed. It will be postponed once the developer of the Ruger Kerstiens project provides some necessary cost estimates.
The commissioners also:
â¢ Extended declaration of local emergency disaster to June 7.
â¢ We heard that the county has received $ 620,114.89 in community crossing funds.
â¢ Appointed Bryan Young as County Ambulance Coordinator.
â¢ Approved the Veterans Council’s request to use the west side of the courthouse and courthouse washrooms from 10 am to 1 pm on Saturday, May 29 for a Memorial Day ceremony.
â¢ Agreed to close the courthouse from 2:00 p.m. to 4:00 p.m. Friday, June 18 for active marksmanship training.
â¢ Approved Dubois County 4-H Council to use certain Highways Department equipment at this summer’s 4-H Fair.
â¢ We heard that there will be a public meeting Thursday evening regarding the hiking and biking trails that will be proposed in a county-wide trail master plan. This meeting will begin at 5:30 pm at the Thyen-Clark Cultural Center, 100 Third Ave., Jasper; a presentation will be given at 6 p.m.