Monday evening the Plymouth Common Council approved a resolution to amend the economic plan for the allocation area known as the U.S.30/Pine Road Economic Development Area commonly referred to as TIF #3.
The project is to provide the Plymouth Industrial Development Corporation (PIDCO) with financial support for industrial development within the city. The proposal is $30,000 for two years which wouldn’t begin until 2025. The request from PIDCO came after the construction of a new industrial facility valued at $2.5 million that Plymouth Molding Group (PMG) will lease.
PIDCO’s request started with the Plymouth Redevelopment Commission and was reviewed earlier this month by the Plymouth Plan Commission. They determined that the project was in line with the goals of the current Comprehensive Plan.
The City Council is to review the Plan Commission’s order and then confirm that they agree and approve the resolution. From that point, the request will go back to the Redevelopment Commission for a Public Hearing before being considered for support using TIF funds.
City Councilman Jeff Houin asked if PIDCO had any specific projects in mind for the funds that they could disclose at this time.
City Attorney Sean Surrisi said, “The request is an incentive for the PMG building they just completed. PIDCO member Don Wendel told the Plan Commission this month they have some prospects for land on the east side of Pioneer Drive as well.” He said that might be something that hasn’t been disclosed yet but may be coming soon.
The motion was made to pass the resolution and all members attending the meeting voted in favor and the resolution was approved.