July 23, 2014 at 2:10 p.m.
County redevelopment commission organizes (10/24/06)
Jay County Redevelopment Commission
By By MARY ANN LEWIS-
Plans for creating a Tax Increment Financing (TIF) district that will include the new Premier Ethanol LLC production facility southwest of Portland began moving at a faster pace Monday afternoon when the recently appointed Jay County Redevelopment Commission held an organizational meeting.
Jay County Commissioner Faron Parr was elected president of the new commission with Carl Walker to serve as vice-president; county attorney Brad Burkett to serve as secretary; and county auditor Freda Corwin to be the recording secretary.
Other members of the five-member commission are county councilman Todd Wickey, and county engineer, Dan Watson.
The TIF was requested by Premier officials, to help with the infrastructure costs at the site at 200 West, south of Ind. 67, near Meshberger Brothers Stone Corporation.
Infrastructure improvements within a district are funded by capturing property taxes collected from rising assessed valuations on properties within the district. Without a TIF district, those taxes on rising assessed valuations would typically pass on to other taxing units such as the county and the school system.
The tax revenues collected by the TIF district are controlled by the appointed redevelopment commission.
In this instance, the tax revenue for the improvements will all come from Premier Ethanol.
The TIF funds are also expected to help offset costs the county is expected to incur when a sewer line is installed to correct a sewage problem near the Foxfire housing addition.
Following the election of officers Monday, Sue A. Beesley, an attorney with Bingham-McHale LLP, Indianapolis, who has been hired to help the county through the process, explained what steps will be now be taken.
She said a concern was that Premier officials have not yet provided information about how much will be needed for the infrastructure project.
"We have no idea how much they want," she said. "No one (on the commission) has sat down and talked to this company."
It was decided that two of the commission members would meet with Premier officials informally on Nov. 6, to learn what expectations representatives there have. An official meeting of the commission will be held at 2 p.m.
"We'll take their wish list," Beesley explained, "but that doesn't mean they'll get it."
She said the next step would be to adopt a declaratory resolution that sets out the area targeted for the TIF that would include Premier. Additionally an economic development plan must be formed but before that plan is generated, she explained that a financial adviser should be retained.
Commission members agreed to hire Gregory T. Guerrettaz, of FSG Corp., Indianapolis.
Guerettaz and Beesley were both employed by the city of Portland's redevelopment commission as it created its TIF district and they continue as advisers to those members.[[In-content Ad]]
Jay County Commissioner Faron Parr was elected president of the new commission with Carl Walker to serve as vice-president; county attorney Brad Burkett to serve as secretary; and county auditor Freda Corwin to be the recording secretary.
Other members of the five-member commission are county councilman Todd Wickey, and county engineer, Dan Watson.
The TIF was requested by Premier officials, to help with the infrastructure costs at the site at 200 West, south of Ind. 67, near Meshberger Brothers Stone Corporation.
Infrastructure improvements within a district are funded by capturing property taxes collected from rising assessed valuations on properties within the district. Without a TIF district, those taxes on rising assessed valuations would typically pass on to other taxing units such as the county and the school system.
The tax revenues collected by the TIF district are controlled by the appointed redevelopment commission.
In this instance, the tax revenue for the improvements will all come from Premier Ethanol.
The TIF funds are also expected to help offset costs the county is expected to incur when a sewer line is installed to correct a sewage problem near the Foxfire housing addition.
Following the election of officers Monday, Sue A. Beesley, an attorney with Bingham-McHale LLP, Indianapolis, who has been hired to help the county through the process, explained what steps will be now be taken.
She said a concern was that Premier officials have not yet provided information about how much will be needed for the infrastructure project.
"We have no idea how much they want," she said. "No one (on the commission) has sat down and talked to this company."
It was decided that two of the commission members would meet with Premier officials informally on Nov. 6, to learn what expectations representatives there have. An official meeting of the commission will be held at 2 p.m.
"We'll take their wish list," Beesley explained, "but that doesn't mean they'll get it."
She said the next step would be to adopt a declaratory resolution that sets out the area targeted for the TIF that would include Premier. Additionally an economic development plan must be formed but before that plan is generated, she explained that a financial adviser should be retained.
Commission members agreed to hire Gregory T. Guerrettaz, of FSG Corp., Indianapolis.
Guerettaz and Beesley were both employed by the city of Portland's redevelopment commission as it created its TIF district and they continue as advisers to those members.[[In-content Ad]]
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