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Baker Tilly outlines Northfield housing change; council told TIF ordinance will be introduced next meeting
Summary
Consultants from Baker Tilly told the New Castle City Common Council that townhomes have been added to the Northfield housing plan behind the YMCA and that a revised TIF ordinance will be introduced at the next council meeting.
Jason Semler of consulting firm Baker Tilly told the New Castle City Common Council on June 1 that the Northfield housing project behind the YMCA has been revised to include townhomes and that the council will see a corresponding TIF ordinance at its next meeting. Semler presented the change during the public-comment portion of the council meeting, joined by Corey Murphy.
The update matters because the redevelopment plan uses a tax increment financing (TIF) district, and adding townhomes changes the mix of housing that the TIF would support. According to Semler, the edit will be formalized in an ordinance introduced at the council's next meeting; council members did not vote on the TIF at this session.
Semler summarized the project and the reason for the edit, and said an ordinance reflecting the townhome introduction will be brought forward for council consideration. "An ordinance will be introduced next meeting," Semler told the council. Council members asked clarifying questions during the general public-comment period but took no formal action on the TIF at the June 1 meeting.
The council's next regular meeting will be the first opportunity for members to consider the ordinance and any accompanying developer materials, fiscal analyses or public testimony. The consultants indicated the item will return on the council agenda rather than being resolved at this session.
