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County outlines New Carlisle allocation area expansion and redevelopment bond backed by TIF
Summary
County staff proposed creating Allocation Area 5 in New Carlisle for utilities, property acquisition and trail work, and discussed a redevelopment commission taxable bond backed by TIF revenues and a 'special benefits' tax as backup; designated taxpayers (including AWS parcels) would permit collection of personal property taxes in the allocation area to support the bond.
County economic development staff briefed the council on proposed changes to the New Carlisle Economic Development Area and an associated redevelopment bond the council will consider on October 8.
Bill Schallio, economic development director, said the proposal would create Allocation Area 5 (about 34 parcels and approximately 378 acres) focused on utility projects, targeted property acquisition, and…
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