The Gas City Economic Redevelopment Commission adopted a 7.23-acre expansion to its tax increment financing (TIF) district on Oct. 30.

The commission approved a separate 64-acre expansion of the TIF district in September.

The added acreage extends from the revitalization area to Angle Acres in Gas City. The expansion should add to the incremental taxes generated by development in that area to help fund the civic center auditorium project or enhance the development in that area, Gas City Mayor Larry Leach said.

“So, we can utilize the TIF funds to build this facility,” Leach said.

The proposed civic center is planned to be a joint partnership between the city and Mississinewa Community Schools.

According to Leach, the land where the auditorium is to be built was not within city limits originally, so the TIF expansion aided in placing it within city limits and in funding the project.

Gas City Clerk-Treasurer Teri Miller said as long as the commission is not forming a separate district but only expanding on the old one, they may still use the established TIF funds for the project.

“I just want to make sure we’re not getting ourselves into a box where we can’t use the existing TIF funds for this project,” Leach said.

The commission also adopted Bond Resolution Four, addressing the $12 million cost of constructing the civic center auditorium with the taxes generated in the TIF district.

Leach and Miller have previously said they expect to pay approximately $2 million of the estimated $3 million in annual TIF revenues to pay toward the bond each year.

Leach said at least two school corporations will help operate and utilize this space, but it will also be available for public use such as concerts.

“It would just be something available for all kinds of functions, whether it be concerts or school functions,” Leach said. “I think it’s just going to impact the whole community, and I think it’s a very positive impact.”

Mayoral candidate Bill Rock said he supports both the expansion of the TIF district as well as the construction of the auditorium.

On Nov. 6, the commission will take the adoption of the resolutions for both the bond and 7.23-acre expansion to city council. On Nov. 20 at 10 a.m., a public hearing will be held for the additional appropriation resolution stating the bonds for the auditorium project will not exceed $12 million.

“I’m just glad it’s moving forward,” Leach said.
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