TIF district changes, loss of funds worry cities

WLFI File Photo
WLFI File Photo

SOUTH BEND, Ind. (AP) — Special tax districts that were created to help redevelop economically depressed areas will expire as soon as 2025, and many Indiana cities are worried about the revenue they’ll lose.

Under current law, districts created before July 1, 1995, never expire. A new law taking effect July 1 requires all legacy TIF districts to expire in 2025, unless they are repaying bonds issued before July 1, 2015.

State Sen. Pete Miller tells the South Bend Tribune that the law is designed to get back to the original purpose of the districts. Lawmakers say many communities have used the districts as slush funds for lavish projects such as a 1,600-seat performing arts center in Carmel.

Leaders in Mishawaka and South Bend say the change will affect how they approach development.

WLFI.com provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language, off topic, or racial slurs, will be banned. Please be respectful of the opinions of others and keep the conversation on topic and civil. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s