Developers plan to build 200 high-end apartment units and 120 new homes on Seymour’s north side and have proposed using money from a tax-increment financing district to help defray some of the estimated cost to develop the apartment complex.
The subdivisions proposed by Bushmann LLC and its partners, Jeff Bush of Columbus and Tom Greemann of Seymour, target high-wage earners taking engineering and other jobs at the Cummins Inc. Seymour Engine Plant.
It was estimated the new neighborhood could generate as much as $600,000 in new property tax money on $15 million in assessed value when fully built. That doesn’t include anticipated increases in local income tax earnings.
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