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Commissioners create Bass Road TIF fund to capture 2024 increment
Summary
The Allen County Commissioners approved establishing a fund for the Bass Road Tax Increment Financing (TIF) area to collect increment starting in 2024, payable in 2025.
The Allen County Commissioners on March 28 approved a fund ordinance to establish the Bass Road Economic Development Area and Allocation Area fund so the county can collect tax increment beginning in 2024 (payable 2025).
Rachel Black of Allen County Economic Development told commissioners the Bass Road area was established in February 2009 and is set to expire in February 2034, leaving roughly nine years of increment remaining. She said the auditor and assessor notified the county that a zoning change from agricultural to commercial created an assessed‑value increase that will generate increment this year.
Black said the site is slated for a future soccer stadium; she estimated the stadium would seat about 7,000 but said no site plan or firm development timeline has been presented to county staff. The Allen County Redevelopment Commission will review the TIF district annually to determine whether to retain increment or pass it back to taxing units.
Commissioners approved the fund ordinance with no recorded opposition. Black said staff have not been asked for additional assistance by the stadium proponent at this time.
