Planning Commission: TIF #6 Approved as Mixed Use TIF; Commercial Subsidy not Intent

The Evansville Planning Commission voted unanimously on Tuesday night to recommend approval of TIF #6 to the Common Council.

As you may remember, this originally started as an "Industrial TIF" where over 50% was cast in stone as Industrial. Out of the dialogue from the previous hearing, it emerged that the developer did not want to be locked into committing for the term of the TIF that over 50% would be industrial since this might limit their options depending on what emerged as potential prospects for development.

Supr. Heidi Carvin of the Evansville School District appeared and indicated her approval of the TIF because it provided the prospect of Tax increment without additonal residential development which would bring additional students to our school system. She indicated that this is just what we need at this time.

Mr. John Mourning appeared and asked if TIF #6 could pick up costs north where he has been developing the shopping center and that he has not had any TIF assistance so far and that it would not be fair if commercial on the south got subsidy.

Mr. Wagner as well as Mayor Decker clarified the point for Mr. Mourning. The intent of the TIF with respect to commercial is not to provide subsidy on the north or the south except in the possibility of deferral of taxes in exceptional cases. The one item that could benefit Mr. Mourning is that the TIF as currently planned will pick up the expenses of the intersections. Mr. Mourning had been required to provide a letter of credit for future expenses to make a pass through lane. Now this letter of credit would not be necessary. There was some discussion of when he could get this letter of credit released.