Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
EDC approves recommendation to issue $9M TIF bonds and make $5.8M loan for South Main mixed‑use project
Summary
The commission approved a resolution recommending issuance of $9,000,000 in tax‑increment revenue bonds and a $5,800,000 loan from consolidated South TIF for a $51,000,000 South Main/Freight Street mixed‑use development that would include 210 apartments and 3,000 sq ft of commercial space; the RDC previously committed funding and future TIF revenues to the project.
Mike Huber, director of development services for the City of Elkhart, presented the South Main/Freight Street project and summarized commitments in a previously executed development agreement. He told commissioners the project was submitted to an RDC RFP and involves Garrison Fraser and Millhouse developers to build a multi‑site mixed‑use development in the South Main corridor.
Huber described the proposal as a $51,000,000 total investment,…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
