Facade funds approved

A local board has again voted to help fund improvements to the facades of businesses in downtown Portland.
Members of the Portland Redevelopment Commission voted Monday to use $25,000 in tax increment financing (TIF) funds as matching grant funds for Portland’s Downtown Façade Funding grant program.
The Portland Economic Development Income Tax Advisory Committee also was scheduled to meet Monday evening, but the meeting was canceled due to lack of a quorum. On the agenda for the meeting was a request for $25,000 in EDIT funds for the façade grant program. The meeting has been rescheduled for Jan. 17 at 6:30 p.m. in the meeting room at the Portland Fire Station.
Both the EDIT committee and the redevelopment commission voted to give matching grant funds for the façade grant program last year.
A total of seven projects were awarded matching grant funds in the inaugural year of the program. For this year’s program, the matching amount for any single project has been increased to $15,000 from $10,000.
A majority of downtown Portland is located in the TIF district. When the TIF district was established, one of the goals was to use funds generated in other parts of the district to revitalize the downtown area.
Kristi Sturtz of Sturtz Public Management Group updated the commission Monday on the progress of the projects awarded grant funds. Three of the projects were awarded extensions by the Downtown Façade Funding Committee. The balcony replacement at the Fraternal Order of the Eagles building is ready for bid letting, she said. The other three projects have been completed.
In other business Monday, commission members:
•Heard city clerk-treasurer Randy Geesaman report that total revenue for the TIF district in 2010 was $258,695.18, which is down from $262,333 in 2009.
Geesaman said the poor economy contributed to a reduction in assessed valuations for several key commercial properties that were constructed after the district was created in 2006.
•Heard Portland Mayor Bruce Hosier report that bid letting for the Lafayette Street extension project is expected in June or July.
Plans call for the street to be extended west to Industrial Park Drive. A $740,000 grant through the Indiana Department of Transportation will help fund the project.
•Voted to name Joe Johnston president of the commission, and to retain Mike Simons vice president and Brooke Aker as secretary. Hosier has not yet named a replacement for Randy Wehrly, who resigned from the commission last year.[[In-content Ad]]