City of Linton extends TIF district in downtown area

Published on 2/14/2017

 

The City of Linton voted to extend its TIF (Tax Increment Finance) district Monday night in order to prepare for an anticipated new development opportunity.
Linton Mayor John Wilkes said, currently, the TIF zone encompasses 30 blocks in the downtown area, but the order and resolution approved at the regular meeting will extend to the area behind Walmart on County Road 1000 West. The extension was approved by the Linton Redevelopment Commissioner earlier on Monday.
 
The new area, according to Wilkes, is located behind Walmart and will border County Road 1000 West and head south to the railroad tracks. It will encompass about 70 acres of land to the west of the county road.
 
Sue Beasley, an attorney with Rowe Law Firm, explained the extension to the new area is connected by a “barbell” along State Road 54 from downtown to the 70-acre area on County Road 1000 West. The barbell connects the two areas, but no businesses between will be affected.
 
The barbell connecting the two areas will allow the Linton Redevelopment Commission to use TIF funds captured to be used for both areas included in the zone. The funds can be used for improvements in those areas.
 
“It locks in the tax base that’s already there. The taxing units will still get that money. All new development that generates taxes, the Redevelopment Commission will get. This a 25-year agreement,” Wilkes explained. “What my thoughts are is we could use the money to develop this industrial site.”
 
Wilkes cited a planned development opportunity in the area on the east edge of town, although he said the proposed development has not been finalized so he did not want to announce it yet.
 
“We have power in that area. We have water and gas. It’s going to going to take a little bit (to develop) but not as much as if we went outside of town some place. The other good thing about it is, this area is all in the city limits, so we have all the utilities out there. So, the city will make money off of the utilities also,” Wilkes said.
 
-- Source: Greene County Daily World, www.gcdailyworld.com
 

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