Kosciusko County Area Plan Commission heard about a revision to the Syracuse tax increment finance (TIF) district during a meeting Wednesday.
Syracuse Town Manager David Wilkinson brought to the commission a revision of the Syracuse TIF district to make sure it is compatible with the comprehensive plan.
“We would like to add the … area that actually extends into Elkhart County where the new RV park was constructed in the last 18 months,” said Wilkinson. “Our thought is to grab that area and add it to the (existing) Syracuse TIF.”
The RV park received its initial approval through Elkhart County, which happened before the annexation, “but now it’s our baby,” said Matt Sandy, Area Plan director.
Wilkinson explained TIFs are “basically an allocation area … when a TIF is created, the baseline evaluation of that area remains, and all the taxing entities … all continue to receive their tax dollars from that baseline. Any incremental improvements above the baseline during the development phase are captured and remain in the TIF.”
The commission approved the TIF declaratory resolution. It will go to the Syracuse Town Council, and end back at the Syracuse Redevelopment Commission.
In other b...