Tuesday evening members of the Plymouth Redevelopment Commission took the final step in creating the city’s 6th TIF district.
During a public hearing Heidi Amspach with Baker Tilly, formerly Umbaugh & Associates presented members with the tax impact statement. The statement was also given to the overlapping taxing units which include Marshall County, the Plymouth Community School Corporation, the Plymouth Public Library, Marshall County Solid Waste and Center Township. The statement showed no tax impact on the overlapping taxing units.
The new TIF District is for the Centennial Crossing that will be located directly north of Centennial Park and on the north side of Plymouth Goshen Trail.
Amspach told the board approximately $200,000 would be generated from the TIF on the non-residential properties. While the development is a residential development the single family homes will not generate TIF funds but the apartments and the amenities will contribute to the TIF. Funds generated can be used to pay bond payments or go back into the TIF District for infrastructure.
There were no public comments during the public hearing and Plymouth Redevelopment Commission members unanimously voted in favor of the Plymouth/Goshen Trail TIF.
