Council approves plan commission order tied to solar project TIF boundary
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The Common Council approved an order confirming the plan commission’s approval of a Redevelopment Commission declaratory resolution that defines a TIF boundary for a proposed solar project; the action clears a step in the bond/TIF process required for project financing.
The Michigan City Common Council on Aug. 19 approved an order accepting the Plan Commission’s report on a declaratory resolution the Redevelopment Commission adopted to create a consolidated economic development area for a proposed solar project.
Skyler York, director of redevelopment, said the council previously authorized bond ordinances and an economic improvement district; the declaratory resolution and plan-commission order set the geographical boundary from which tax increment financing (TIF) will be drawn to repay TIF-backed bonds. Attorney Thomas Everett of Barnes & Thornburg confirmed the process and said the Redevelopment Commission will hold a public hearing in September before adopting a confirmatory resolution.
Public comment supported timely approval. Commenter Scott Mellon urged the council to approve the measure to allow the project to advance. Councilman Bryant Dabney moved adoption and Dr. Amir Cora seconded; the council recorded a unanimous vote (9-0) to approve the order.
What this means: The action does not itself grant money or finalize investment; instead it fixes the boundary for the TIF area so that the Redevelopment Commission can proceed with the confirmatory resolution and related financing steps. Redevelopment staff said establishing the boundary is a routine but required step in the bond and TIF process for projects that will use increment revenues to repay bonds.
Ending: The council’s vote clears a planning-stage hurdle for the proposed solar project; the Redevelopment Commission’s confirmatory hearing and subsequent actions will determine the project’s final financing structure.
