Geneva TIF district gets final OK

GENEVA — The creation of a tax increment financing (TIF) district in Geneva is complete.
Geneva Redevelopment Commission approved Tuesday evening a resolution confirming the proposed district as an economic development area and approving its economic development plan after a public hearing brought no comment.
Member Bill Warren reviewed the steps that had brought the commission to its final motion, including approval by Geneva Plan Commission and Geneva Town Council, and added that tax impact statements were recently sent to overlapping taxing districts to no reply.
The TIF district will encompass Red Gold’s current building as well as its estimated $8.5 million expansion, the new Dollar General on U.S. 27, Geneva Manufacturing, downtown buildings and all of the town’s assets, including parks, the water tower and the motor vehicle highway building.
It’s estimated to generate $2.5 million during a 25-year lifespan.
Members Dick Clutter, Agnes Schoch, Jim Timmons and Warren approved the matter unanimously. Member Doug Milligan and non-voting member Landon Patterson were not present at the meeting.
Warren will file the paperwork to the Adams County Auditor’s office and the Indiana Department of Local Government Finance to finalize the matter.