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Commission reviews preliminary Jacob Square residential housing development program
Summary
A consultant presented a preliminary residential housing development program for the Jacob Square neighborhood, proposing roughly 35 units, an estimated $1.25 million in public costs and tax-increment funding to support public improvements.
At the Aug. 19 meeting of the Hammond City Redevelopment Commission, consultant Dan Bodich presented a preliminary Jacob Square Residential Housing Development Program that would use redevelopment tools and tax-increment financing (TIF) mechanisms to incentivize infill housing and rehabilitation across roughly 35 buildable lots in the Jacob Square neighborhood.
The program is a preliminary submission under section 53 of the redevelopment law and, staff said, will undergo statutory review and a 30-day notice period to overlapping taxing units and property owners before the commission may consider a declaratory resolution. Staff estimated the next steps would lead to a potential declaratory resolution at the Oct. 21 meeting, with final confirmations by December.
What the plan proposes
Bodich told the commission the program anticipates about 35 units of market-rate housing with an estimated per-unit value between $150,000 and $250,000. The preliminary public cost estimate is roughly $1,250,000; private investment leverage was presented at about $7.40 of private investment for every $1 of public investment, producing an estimated total investment between $7 million and $9.5 million across new construction and rehabilitation efforts. Staff estimated incremental tax revenues could generate $40,000–$50,000 per year to help incentivize development or fund public improvements such as sidewalks and lighting.
Design and scope
Staff and the presenter emphasized design compatibility with the existing neighborhood: single-family homes, market-rate townhomes or rehabilitated homes consistent with neighborhood architecture. The program area was described generally as bounded by Fayette Street to the north, Carroll Street to the south, Beale Street to the east and Seoul Avenue to the west; staff clarified some boundary details during questions and said the precise area will be finalized during plan review. Staff noted Jacob Square was identified in a master-plan process as an area in need of revitalization and that public improvements already underway include Windridge Park.
Next steps and statutory process
Bodich and staff said the program is preliminary: once accepted for review, staff will coordinate with the Department of Planning and Community Development (Brian Poland) to finalize a full economic development analysis and a tax-increment revenue pro forma. That submission will trigger a 30-day statutory period during which the assessor and overlapping taxing units will be notified and property owners will receive notice. After that period the commission may consider a declaratory resolution. Staff suggested the commission could receive a finalized plan at an early September meeting and act on schedule toward an October declaratory resolution and final confirmations by December.
No formal action required tonight
The presentation was received for review; commissioners asked clarifying questions about unit types, design guidelines and boundaries. No vote or formal adoption occurred; staff asked commissioners to submit comments to Anne Taylor or staff ahead of the next meeting.
Ending
Staff said the program will be revised based on commission feedback and returned for formal action in coming meetings when the statutory notice and economic analysis are complete.
