Redevelopment Commissionís first draw of tax increment financing moneys was
a little light this year: about $70,000 light, or better than 8 percent of
the expected amount of $844,000.
The second draw in
November will be a little light too, by roughly the same amount,
Clerk-Treasurer Stephanie Kuziela reported at the commissionís meeting
Itís a $140,000
ďadjustment,Ē as the Porter County Auditorís Office is calling it.
Turns out, in 2013
the Auditorís Office neglected to carve out of the commissionís two draws
those funds due to the Duneland School Corporation as revenues from the new
property tax which voters approved by referendum in 2012. This yearís
adjustment is meant to make things even-steven for the Duneland Schools,
Under state law, a
new school property tax authorized by referendum is exempt from TIF capture.
The commission will
still collect a total of around $1,544,000 in TIF moneys this year.
The new school
property tax--at a rate of 22 cents per $100 of assessed valuation--was
expected to generate around $5.6 million in additional annual revenues for
the Duneland Schools. Voters approved it by a wafer-thin margin of 4,903
Yes votes to 3,940 No votes.
LED Street Lights
In other business,
Street Commissioner John Schnadenberg reported that it will cost $286.10 per
fixture to convert the traditional high-pressure sodium decorative street
lights in the Downtown to LED.
With 101 total
fixtures, that makes a final tab of $28,896.
In four years,
however, the LEDs will pay for themselves in lower electricity costs,
The only question:
to install the LEDs in one shot or over time.
All at once, the
commission decided, not simply because the funds are available to do so but
because, as Member Sharon Darnell noted, the mottled illumination which a
mixture of street lights would provide could confuse and distract motorists.
Member Jim Ton
noted that energy savings are only the beginning: the Street Department will
save money on bulb and ballast replacements as well the time spent in
Re: Fiber Optic
voted unanimously to officially make the installation of fiber-optic conduit
a TIF-eligible project.
They did so by
adopting a confirmatory resolution which formally amended the economic
development plan for each of the townís three TIF districts.
No one spoke in
favor of the amendment at a public hearing which preceded the vote and no
spoke in opposition to it.
The town will not
itself be installing fiber-optic cable, only the sleeve.
Members also voted
5-0 to approve the following claims: $2,435 and $280 from DLZ; $597 from 1st
American Management Company; $437.50 from Chesterton Stone & Landscape
Supply; $91.55 and $38.89 from Hopkins Ace Hardware; $2,151.73 from Ralson
Paving Corporation; $49,409.10 from Pavement Solutions Inc.; and $1,050 and
$975 from Harris Welsh & Lukmann.