Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Land Use topic
No spam. Unsubscribe anytime.
Redevelopment commission declares 2711 West 37th Avenue blighted, clears path for possible TIF acquisition
Summary
The Hobart Redevelopment Commission voted to find 2711 West 37th Avenue blighted under section 19.5 of the RDC statute, enabling the authority to pursue acquisition options tied to a proposed TIF district; appraisals and further approvals were described as still pending.
The Hobart Redevelopment Commission voted to declare the parcel at 2711 West 37th Avenue, owned by Regional Data Management LLC, blighted in an economic sense under section 19.5 of the RDC statute and authorized steps that would allow the commission to pursue acquisition within a proposed tax-increment financing (TIF) area.
Staff counsel explained that the RDC statute permits acquisition when a willing seller is present and a formal finding of blight is made; the commission discussed how a TIF district could be used to finance redevelopment. "The determination that the property at 2711 West 37th Avenue owned by Regional Data Management LLC is blighted in an economic sense as stated in section 19.5 of the RDC statute," was moved and seconded and approved by the commission.
Officials noted the vote does not itself buy the property. Board members and staff said appraisals are still being obtained and that any purchase would follow additional steps, including appraisal review and coordination with the city and the plan commission as the TIF district is finalized. One commissioner recalled the commission's previous use of the RDC statute to acquire Greenwood Terrace parcels and said the current action is intended to make similar tools available for strategic redevelopment.
The commission discussed funding options for any acquisition, with staff noting TIF proceeds could be used and the city may also, at its discretion, provide funds to the RDC. Staff emphasized that a TIF district under development would need formal adoption before borrowing or acquisition could proceed.
Next steps identified in the meeting: complete appraisals, finalize the proposed TIF district through the plan commission and city approvals, and return to the commission with procurement and funding recommendations. The motion was approved by voice vote.
