Bluffton to expand TIF District and add another
The Wells County Area Plan Commission gave its approval to a pair of proposals regarding TIF districts in Bluffton.
The measures were approved last Tuesday night by the Bluffton Redevelopment Commission. The measures would create a new tax increment financing district known as the Lancaster TIF District on the north side of the city and expand the Adams Street TIF District on the city’s west and south side.
Chad Kline, Wells County’s economic development director, presented the measures to the APC members Thursday night and explained the rationale behind them.
The Adams Street TIF District will be expanded to connect it to the area south of it, to the industrial park and on to Wells County Road 200S, he said. In so doing, he said, “it will allow current funds to be used in this area.”
Specificially, 200S could be upgraded to serve as a south bypass for traffic in and out of the industrial areas on the city’s west side. Also, he said, there is an empty industrial building that TIF funds could be used to incentivize development there.
The Lancaster district will include the new apartment complex now being built north of Walmart and will jump across Ind. 1 to collect some properties there. Money accumulated by the district could be used for investment on extending the Interurban Trail and improvements to Lancaster Park.