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Elkhart council approves TIF district to support 86-home Boulder Run subdivision
Summary
The Elkhart City Common Council voted 9-0 to adopt Resolution 25‑R‑14 creating the Boulder Run Economic Development Area, a tax-increment finance district intended to return most project TIF revenue to a developer to offset $7.1 million of infrastructure costs for 86 single‑family lots.
The Elkhart City Common Council on a 9-0 roll-call vote on June 1 adopted Resolution 25‑R‑14 to create the Boulder Run Economic Development Area, a tax-increment finance (TIF) district intended to help fund sewer, street and water infrastructure for an 86-home subdivision east of the Jean Wood Drive–Henke Street intersection.
Mike Huber, development services director for the City of Elkhart, told the council the developer estimates roughly $7,100,000 in infrastructure costs for the project and that “generally, the TIF will raise about $3,100,000.” Huber said the redevelopment commission is “anticipating to pledge 80% of the TIF towards the support of the project, keeping the remaining 20% to help offset costs related to public safety in the area.”
The resolution implements an economic development area plan for the Boulder Run Economic Development Area and records the Elkhart Redevelopment Commission's determination that the area qualifies as an economic development area. Councilman Crabtree moved adoption and a second was recorded; Melody (city staff) conducted a roll-call vote that resulted in nine affirmative votes and no opposition.
Developer Conway Hershberger, principal of…
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