The Carroll County Redevelopment Commission (RDC) members heard good news at the Monday afternoon meeting when they learned that a second development is planned for the Hoosier Heartland Industrial Park (HHIP).

Carroll County Economic Development Corp. (EDC) Executive Director Laura Walls reported to members Larry Trapp, Monty Edging, Michelle Cox, Josh Plue and Paul Rider, terms were reached and agreed to in January for Lot #3 in the HHIP. The parcel of land to be occupied, by an undisclosed entity, is west of the Carroll White REMC building, the only building currently in the 62- acre Park. Walls said it is a back lot that does not have highway frontage.

Walls said the agreed terms include the entity paying the full asking price, which was not disclosed. The RDC sold the 62-acres, formerly the Gray’s Turkey Farm, to EDC for development purposes several years ago for $1. The RDC voted to pay a claim for $7,712.32 for a completed Phase 2 environmental assessment Monday for Lot #3.

Walls also reported a second project, for which verbal terms have been agreed upon, would be located adjacent to the current Tax Incremental Financing (TIF) district. She said it would contain both industrial and residential development if it comes to fruition. Walls recommended the RDC expand the current TIF allocation property to include the 200 acres being considered. In addition, Walls suggested the RDC consider not only capturing the tax revenue from the proposed industrial site but also from the residential development.

It was decided to invite representatives from Baker Tilley and Barnes and Thornburg, both financial advisors, to the March 9 meeting to discuss how to add the 200 acres to the current TIF District and how to capture property tax revenue from the possible residential development.
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