Public Hearings Scheduled For 2 Proposed Residential TIFs
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The city of Warsaw is exploring the creation of two residential tax increment financing districts in order to promote new market-rate workforce housing in Warsaw and Kosciusko County.
A residential TIF district would enable Warsaw to collect taxes generated from new residential developments within the proposed district. That tax revenue is then used specifically and only for improvements within that district to provide growth and amenities to that area. TIF does not increase or change property taxes of existing properties within the district, according to a news release from the city.
The primary intent of the newly proposed residential TIF districts is to develop single-family residential market-rate housing units needed to support workforce development within Warsaw and Kosciusko County. The districts would enable the city to attract new residential development by constructing infrastructure, acquiring land for development, rehabilitating real property for development, and preparing real property for development. Residential TIF districts would also support walkable neighborhood developments in order to promote housing opportunities within Warsaw, specifically targeting growth within the Warsaw Community Schools district.
Several public engagement sessions are planned within and specific to each proposed residential TIF district in order to encourage public input in the planning process. These public engagement sessions will be targeted toward interested residents and those affected by the residential TIF program, including but not limited to neighborhood associations, school administration representatives, residents within the districts and township assessors.
Public engagement sessions for the “south” proposed district will be held at 5:30 p.m. Oct. 16 and 30 at Eisenhower Elementary School, 1900 S. County Farm Road, Warsaw.
Public Engagement session for the “north” proposed district will be at 5:30 p.m. Oct. 17 and 28 at Harrison Elementary School, 1300 Husky Trail, Warsaw.
Interested residents and or associations may contact the Warsaw Building and Planning Department at 574-372-9550 for information concerning the public engagement sessions and TIF district process.
