TIF board amending figures for training, infrastructure
Friday, March 01, 2013 10:00 AM
The Madison Redevelopment Commission, or TIF Board, has taken the first steps necessary to amend a 2010 resolution that approved $21.4 million in employee training programs and infrastructure improvements.
"The amendment is a change in the long-term future to our economic development plan," board advisor, Bob Cooke, said.
The board will begin working on amending the resolution and eventually present a draft. No discussion of possible amendments took place during the meeting.
By amending the resolution it is possible for the city to receive funding from the Indiana Department of Transportation for environmental studies for some projects included in the resolution.
In other news, the board also tabled a request to widen Dawson Smith Road. The project would widen the road on the east side of the Shun Pike intersection because of increased traffic in the area. The estimated cost of the project is $209,000.
The board tabled the discussion until its next meeting so that the City Council can weigh in on the funding of the project.
The board elected new officers. Joe Craig was named president; Matt Forrester vice president; and Garry Sparks secretary/treasurer. All votes were unanimous
The board also viewed an online seminar called "Exploring the Ins & Outs of 'TIF.'" The seminar reviewed what a TIF board can do for the community. The seminar was presented by Umbaugh. The Greencastle based business is a private financial advisor to government agencies.