County gives OK to creation of TIF district
Taking a step in forming a new Tax Increment Finance district, the Wells County Commissioners Monday signed over jurisdiction of the portion outside the city limits.
After a discussion on how a TIF district could benefit the Jasun Park area on the city’s southwest side, the commissioners voted unanimously to turn its section over to the Bluffton Redevelopment Commission – jurisdiction of which will only concern the use of TIF funds and the district itself.
Wells County Economic Development Director Tim Ehlerding said a similar move was made in Ossian, which allowed the town to have jurisdiction of its TIF district, including the portion outside of the Ossian corporate limits.
Kevin Woodward expressed concern over future partnerships on potential projects if that land is in control of the county, and while Ehlerding said it would lessen the likelihood of the need to come to the county, it doesn’t remove the possibility.
Ehlerding also said a TIF district in that area of development could encourage future endeavors by capturing TIF funds. Possible projects from those TIF funds include the reconstruction of Harvest Road and 200S from Ind. 1 to Adams Street.
Article by Jessica Williams, Courtesy of the News-Banner