BROWNSBURG — The Redevelopment Commission (RDC) here met Tuesday evening and agreed to a tax increment financing (TIF) pass through amount of $6 million for 2014.
The town has two TIF districts: Wynne Farms and the north beltway. The Wynne Farms district already has TIF district money going each year toward other entities including schools and libraries.
The RDC is charged with deciding how much money from the TIF districts are passed through to local taxing entities based on identified needs in that particular area, such as infrastructure projects.
The issue has been debated for the past year as it impacts several local taxing entities, including the Brownsburg Community School Corporation, Brownsburg Public Library, and Brownsburg Fire Territory.
The pass through amount decided on was $8.5 million less than the amount passed through this year, which was $14.5 million.
Opinions differed greatly on the issue, as RDC President Rob Kendall called the 4-1 decision a “great day for Brownsburg,” while Dr. Jim Snapp, superintendent of the BCSC called the ruling “disappointing.”
Committee member Gary Hood, who also serves on the town council, proposed an amendment that would have raised the pass through amount, but that proposal failed. He was the lone dissenting voter for the $6 million amount.
“Over the next couple of years, an excess of $21 million worth of road projects that need to be done will get done,” Kendall said. “It’s going to bring businesses and residents to town, and that’s going to help this community. From my perspective, it was never divisive. It’s all about doing the right thing for Brownsburg.”
Snapp said he was very disappointed in the decided on amount, which he noted was one seventh of what was passed through three years ago.
“We offered a number of options that we believe created a win-win situation for the town, for their expansion efforts, and for the taxing entities including school, library, and fire territory,” Snapp said.