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Monroe County Redevelopment Commission
From Bloomingpedia
Commission under the jurisdiction of the Monroe County Commissioners that oversees the Tax Increment Financing (TIF) districts of the county. Businesses locating in a TIF district are eligible for up to ten years of property tax benefits, and property tax money that is collected in the district is required to spent in the district. One such district was created in the North Park area, along the first mile of new Highway 46 and on the west side of Highway 37 from Vernal Pike to Acuff Road. Another is is bordered on the south by Highway 48, on the east by Gates Drive, on the west by Hartstrait Road, and on the north by Vernal Pike.
In April of 2007, the commission approved the county borrowing $5 million to build a new life-sciences training center at Ivy Tech. But the commission later rejected five construction bids after finding the lowest bid was $600,000 higher than the expected cost. The project remains in limbo.
In June of 2007 the commission loaned more than $1 million from the Richland Township TIF fund to the county, after it was discovered that the Monroe County Auditor's office failed to include an appropriation for a bond payment in the January budget.
The current commission members are:
- Barry Lessow
- Jim Tolen
- Kevin Farris
- John Whikehart (Ivy Tech chancellor)
- Don Merk
Reference: Westside tax district to get more projects (Subscription) [1]
