Council hears first-reading of two TIF bond ordinances for Merit project infrastructure

Bob Clutter, speaking on behalf of the redevelopment commission, presented two bond ordinances tied to the Merit project, a mixed commercial and development site at the southwest corner of a named corridor. He said the redevelopment commission had established a TIF allocation area and the economic development commission authorized issuance of economic development bonds to pay for on-site infrastructure including construction of Lincoln Road, reconstruction of County Road 350 West and drainage work. "The most important thing about this especially from the council's perspective is these are TIF-only bonds. There's no county obligation," Clutter said.