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Council hears first-reading of two TIF bond ordinances for Merit project infrastructure
Summary
Representatives presented two TIF-only bond ordinances tied to the Merit development—s infrastructure (Lincoln Road, County Road 350 West, drainage). The council was told there is no county obligation and the redevelopment commission will adopt related taxpayer agreements at an upcoming meeting; second reading is set for January.
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…
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