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Council approves tax-increment financing agreements for Reserve at Honey Creek development
Summary
Council approved a package of agreements enabling tax-increment financing (TIF) for the Reserve at Honey Creek subdivision; the port authority will issue bonds and the city will pass TIF receipts to the trustee.
The New Carlisle City Council voted unanimously June 2 to approve a set of agreements implementing tax-increment financing for the Reserve at Honey Creek residential development.
Greg Daniels, the city attorney serving as project counsel, summarized three documents before the council: a tax-increment financing cooperative agreement among the city, the port authority and the developer; a declaration of…
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