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Elkhart panel approves preliminary $10.5M bond to fund South Main and Woodland Crossing infrastructure
Summary
The Elkhart Redevelopment Commission adopted a preliminary resolution to issue up to $10.5 million in residential infrastructure bonds to access state RIF financing for South Main Street and Woodland Crossing projects; commissioners heard project cost estimates and a repayment plan using South consolidated TIF revenues.
The Elkhart Redevelopment Commission on Dec. 9 approved a preliminary bond resolution to access up to $10,500,000 in residential infrastructure financing to build streets, water and sewer improvements to support two downtown redevelopment projects.
Mike Huber, the city’s development services director, told commissioners the city applied earlier this year to the state Residential Infrastructure Assistance Program (RIF) for $10,000,000 to support the South Main Street project and the Woodland Crossing…
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