Last week members of the Plymouth Redevelopment Commission heard Plymouth City Attorney Sean Surrisi explain additional information on the proposed Veterans Parkway Extension project and the delay with the City Council not ready to add the project to the list.
After reviewing the financial analysis that Baker Tilly completed the City Council learned that the project could be funded by TIF District # 3 without jeopardizing the committed obligations. Initially it was anticipated that funds would need to come from both TIF Districts #1 and #3.
The City Council had some additional questions on the true benefit to the city.
The proposed project would be funded by both the City of Plymouth and Marshall County. Surrisi said the city’s share would be approximately one-third of the cost while the county’s portion would be the remaining two-thirds. The city would apply for the section from Oak Road to Pioneer Drive and the county would apply for the portion from Michigan Road to Oak Road.
It was noted that about $145,000 is projected to be spent yet this year and into next for the preliminary engineering cost which would show INDOT the city’s intention to see this project move forward.
The City Council has Veterans Parkway on their agenda for Monday’s meeting. It’s anticipated they will continue the discussion and decide on adding the project to the list of projects in TIF #3 Monday evening. If it moves forward the Plymouth Redevelopment Commission will conduct a public hearing on the road extension at the October meeting. There is some urgency because the grant application must be submitted by the end of November.
