Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council adopts Fairway 4 redevelopment plan, advances bond ordinance on first reading
Summary
The Kokomo Common Council adopted Resolution 28-50 establishing the Fairway 4 Economic Development Area and passed Ordinance 72-10 on first reading to authorize up to $8 million in taxable economic development revenue bonds and up to $5 million in forgivable notes to support a proposed multifamily project by Fairway 4 Development LLC.
The Kokomo Common Council adopted Resolution 28-50 and approved Ordinance 72-10 on first reading to support a proposed multifamily project by Fairway 4 Development LLC.
The resolution establishes the Fairway 4 Economic Development Area and approves an economic development agreement for a multifamily development; the ordinance authorizes the city to issue taxable economic development tax-increment revenue bonds (not to exceed $8,000,000) and forgivable notes (not to exceed $5,000,000) to finance portions of the project.
Councilman Sandberg moved for support of Resolution 28-50 after the clerk read the resolution. Sandberg said the development area would be located on a…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
