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Warrick County Council adopts revenue bond ordinance for War Gateway District
Summary
The council approved an ordinance authorizing taxable economic-development revenue bonds to support infrastructure for the War Gateway District, a planned 300-acre redevelopment area; bonds are structured as draw bonds backed by TIF revenues and will be issued with Old National Bank.
Steve Raleigh, the county economic-development representative, returned for a second reading and asked the Warrick County Council to adopt an ordinance authorizing the county to issue taxable economic-development revenue bonds for the War Gateway District, a roughly 300-acre master-planned area aligned with the county comprehensive plan.
Raleigh said the bonds are economic-development…
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