A map has been created outlining a tax increment financing district in Crothersville.
Now, town residents will get a couple of chances to voice their opinions to the newly created redevelopment commission and the town council.
A public hearing is set for 6 p.m. Jan. 2 during the redevelopment commission’s meeting, and another one will be at the start of the town council’s meeting at 6 p.m. Jan. 3. Both meetings are at Crothersville Town Hall, 111 E. Howard St.
Town residents interested in viewing the map and parcel information may stop by the town hall during regular business hours.
Brad Bender with FPBH Inc. of North Vernon recently presented the map and parcel information to the redevelopment commission during its second meeting since being established by the town council in October.
A redevelopment commission’s work involves identifying blighted areas, designating redevelopment areas, developing plans to eliminate blight and working in partnership with private industry and developers to generate new economic development with increased tax base and new jobs.
At the first meeting Nov. 16, Rick Strong was appointed president, while Lenvel “Butch” Robinson was chosen vice president, and Jerad Sporleder was selected secretary. Charles Densford and Geoffrey Walker also are on the commission, and Ralph Hillenburg, who is on the Crothersville Community School Corp. board of trustees, is a nonvoting adviser, serving as a liaison between the school and the commission.
That night, the commission also directed the establishment of the TIF district, which is a tool designed to redirect property tax funds coming from new and future developments to finance redevelopment and community improvement projects. It’s a way to get revenue without increasing property taxes.
The parcels are within the current corporate boundaries of the town. The proposed boundary consists of 247 acres and about 109 parcels owned by separate individuals and corporations with an approximate assessed value of $26,002,400. The usage varies from heavy industrial to commercial, institutional, agricultural and nontaxable.
The boundary runs from the northern edge of town to where the industrial park is located on the southern edge of town.
From the northern part of town to the area of Main Street, it covers from U.S. 31 or Armstrong Street west to the railroad tracks.
From that point south, it stretches from U.S. 31 over to Kovener Street, Park Avenue and Bethany Road and ends just south of the industrial park.
Read the full story in Friday’s Tribune and online at tribtown.com.