The less controversial of the two tax increment financing (TIF) districts proposed by Johnson County Redevelopment Commission is on the move.
Johnson County’s Board of Commissioners approved the declaratory resolution establishing a TIF district in the future I-69 corridor on Monday, after it sat idle since early March.
The resolution, along with a district in the Interstate 65 corridor, was put on pause because of an outcry from Franklin, Greenwood and Whiteland officials. At issue for those officials was the size and scope of the I-65 district, which contains over 3,000 parcels across Pleasant, Clark and Franklin townships, and includes the entirety of Clark Township.
The I-69 district was never a sticking point for local officials, as the district is not part of immediate expansion plans for either Bargersville or Greenwood.
Though the territory does abut Bargersville town limits at Stones Crossing Road, that area isn’t being targeted for growth yet, said Julie Young, town manager.
The TIF district is drawn around State Road 37, which will become I-69, and includes select parcels on roads that connect to it. Those roads are: Stones Crossing Road, Smith Valley Road, Olive Branch Road, Mullinix Road, Fairview Road and County Line Road.
Bargersville officials welcome the I-69 TIF district, said town spokesperson Laura Kennedy.
“We look forward to working with all partners to continue bringing economic growth to the community,” she said.
Both declaratory resolutions were initially passed on to the commissioners on Feb. 22 by the county redevelopment commission, a board on which all three commissioners also serve.
Now the I-69 district is being sent back to the county redevelopment commission for a public hearing. The district does not become official until a confirmatory resolution is passed by both the redevelopment commission and the commissioners.
The redevelopment commission will hold a public hearing at 4:30 p.m. on June 28, with an option to attend and share public comments via Zoom.
These districts are the 18-month-old county redevelopment commission’s first effort at creating a TIF district. However, cities and towns in the county have used TIF to capture revenue for decades.
A TIF district is an area created by redevelopment commissions to raise money to create and fix roads, utility infrastructure, buildings, parks, trails or other projects. Money collected in TIF districts is specifically earmarked for future projects in the confines of that district, though money may be borrowed to use in another TIF district under certain circumstances.
The redevelopment commission would capture a portion of tax dollars from new structures built inside the I-69 district, while some money will continue to flow to the county general fund, Center Grove schools and Johnson County Public Library. The split of new revenue is not known at this time.
While the I-69 district is moving forward, the I-65 district is still at an impasse. At the May redevelopment commission meeting, Franklin and Greenwood officials and municipal consultant Adam Stone shared a study on the impact the district could have on growth east of I-65.
The findings showed a bleak picture that suggests the area would not grow without utility connections, something that the county redevelopment commission does not currently have the ability to provide. There was also debate over what, if any, development is likely in rural areas of Clark Township.
There was no consensus at the meeting, with two members ready to go ahead with the I-65 district regardless of the concerns and with two asking for a pause for further discussion.
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What: Johnson County Redevelopment Commission meeting
When: 4:30 p.m. June 28
Where: In-person at 86 W. Court St., Franklin, or via Zoom from the link to be posted on the events calendar at co.johnson.in.us.