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LaPorte County RDC approves joint undertaking with La Porte to enable TIF funding for proposed Microsoft-area projects
Summary
The commission approved a joint undertaking agreement with the City of La Porte to allow the city to allocate the county portion of tax increment revenues for projects in a proposed TIF area tied to prospective Microsoft investment; legal clarifications and signature logistics were discussed.
LaPorte County Redevelopment Commission members voted April 22 to approve a joint undertaking agreement with the City of La Porte that will allow the city’s redevelopment commission to allocate the county portion of tax increment revenues to fund projects in a proposed tax increment financing (TIF) area tied to a prospective Microsoft investment.
Mister Reardon, who presented the agreement, said Microsoft “is interested in making a substantive investment in the county,” and described the agreement as a mechanism to…
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