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WINONA LAKE - The Winona Lake Town Council and Winona Lake Redevelopment Commission came together Wednesday to discuss the future of tax increment financing (TIF) funds.
The town council was contacted by the Reginal Development Corporation to hold this meeting, prior to both of their upcoming budget meetings, in order to ensure their goals for TIF funds were aligned.
The two areas currently under TIF funding are the Eastern TIF, which focuses on the residential area near Stonehenge Golf Course and the former Raccoon Run golf course; and the Redevelopment TIF, which primarily focuses on the Village at Winona and the surrounding area.
Throughout the meeting, the repeated sentiment was to focus on debt payments over starting new projects within TIF. Town Council member Barry Andrew summarized the sentiment as, “I’m a simple guy. I just want to get debt out.”
However, it was explained by several members of the council and the redevelopment commission how it is preferred when turning in annual TIF budgets for the year to include multiple areas of focus. It is not required that funds go to every project mentioned, but any leftover funds are taken from the TIF budget and redirected back to the school system and the state. Having multiple projects indicates the town has plans in case of additional TIF funds.
Several projects were discussed, primarily plans to add garage doors or vinyl curtains to the Miller Sunset Pavilion to protect those inside during inclement weather.
Alan Alderfer, president of the Redevelopment Commission, requested a list of what the key goals and projects for the Redevelopment Commission should be. Town Manager Adam Lohn agreed to provide this before the upcoming Redevelopment Commission's budget meeting.
