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Manager: Honey Creek/Monroe Meadows TIF agreement coming; council to consider minimum service payment option
Summary
City manager said a TIF agreement tied to bonds from the port authority will come to council in about 30 days and explained how a minimum service payment affects developer coverage and city notification; council received information, no vote taken.
City Manager Jake Kitko told New Carlisle council that a Tax Increment Financing (TIF) agreement for the Honey Creek/Monroe Meadows development will be presented to council in about 30 days and explained the effect of a minimum service payment option.
Kitko said the port authority will sell bonds for the project and that the main city decision is whether…
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