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Council holds ordinance on EID technical corrections after public questions about LLC transfers and transparency
Summary
An ordinance ratifying technical corrections to prior Economic Improvement District (EID) findings was discussed. City attorneys explained that two limited liability companies were used as interim for-profit petitioners to satisfy state EID requirements; public commenters raised transparency concerns. The ordinance was held for third reading.
The Michigan City Common Council took public comment and heard legal explanations on an ordinance that would ratify and reaffirm certain findings in a previously passed ordinance establishing an Economic Improvement District (EID) related to a proposed solar project.
City legal counsel explained that the Redevelopment Commission transferred parcels to two limited liability companies to satisfy a state statutory requirement that a majority of petitioning property owners in the proposed EID be for-profit entities. Counsel said that transfer was an interim step to avoid transferring property directly to the private developer before the developer demonstrated its ability to close financing.…
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