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St John Economic Development Commission approves TIF-backed bonds for Jewel Osco project
Summary
The St John Town Economic Development Commission on April 23 approved a resolution authorizing the issuance of tax-increment revenue bonds of up to $3.5 million to help finance a Jewel Osco project to be constructed by Air Alchemist LLC.
The St John Town Economic Development Commission on April 23 approved a resolution authorizing the issuance of tax-increment revenue bonds of up to $3.5 million to help finance a Jewel Osco project to be constructed by Air Alchemist LLC.
At a public hearing, Tom Everett, an attorney with Barnes & Thornburg in South Bend, told the commission the bonds would be issued in one or more series and could be purchased by the developer or a third party. "These bonds would be issued in 1 or more series to be purchased by a developer or a third party, and would be payable solely from tax increment revenues…
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