(BEDFORD) - Members of the Bedford Redevelopment Commission took the initial step of establishing a third Tax Increment Financing district within the city.
A TIF is a tool governments employ to generate property tax revenue to be used for improvements and development within a designated area.
Bedford Mayor Shawna Girgis said the proposed district would include the railroad industrial loop near General Motors and also the Community Learning Center, currently housing students attending Oakland City University and Ivy Tech.
Voting unanimously in favor of the declaratory resolution to create the new district were Girgis, Adele Bowden-Purlee, Pat Robbins, Mark Scherschel, Judy Carlisle and Tony Ravenna.
The next step in the process requires approval by the plan commission at a special meeting Tuesday, Feb. 28 at 4 p.m. The resolution then goes before the city council. If it is approved, a public hearing must be advertised and conducted before the RDC can render final confirmation.
Gene McCracken, executive director of the Lawrence Economic Growth Council, said officials at GM are working closely with city leaders on the project.
The commission also heard from Ed Curtin of CWC Latitudes, a landscape architecture, redevelopment, economic development and urban planning studio headquartered in Columbus. The company specializes in design planning and economic and redevelopment services.
Curtin said he has been encouraged by Bedford's recent effort to revitalize its downtown area. He suggested turning that sector into yet another TIF district was worthy of consideration.
Have a question or comment about a news story? Send it to email@example.com