The Kokomo City Planning Commission on Aug. 12 approved Planning Commission Order No. 202504, finding that a declaratory resolution and economic development plan for the Fairway redevelopment area conform with the city’s development plan and may proceed toward tax-increment financing (TIF) actions.

TJ, a planning presenter recorded in the meeting, told the commission the Fairway project is a site-specific development proposal expected to produce a multifamily apartment complex with an investment estimated at approximately $33,000,000. The presenter said the project would be removed from the existing Wildcat redevelopment area and set up as its own allocation area so any tax increment generated by the site could be used to issue bonds to finance the development.

The presenter described the site as being near Haines behind the soccer fields; a unit-count figure in the record reads “223 216, apartments” and is ambiguous in the transcript. The presenter characterized the TIF as site specific rather than a broader area TIF and said the developer’s intent is to issue bonds backed by incremental revenue to fund construction.

Commissioners voted to approve the planning commission order; the record shows a voice vote with “All in favor… Aye.” The order will be presented to the Kokomo Common Council for further action. No public opposition or detailed fiscal analysis was recorded in the commission transcript during this item.