West Lafayette's tax increment finance district is on the verge of flowing well beyond the Levee area where it originated. Its size will triple.
The city council last Monday approved the expanded TIF district. At the redevelopment commission's 8:30 a.m. April 18 meeting, the proposal will receive a public hearing and final approval.
Revenue from the expanded TIF district will generate opportunities to address long-standing problems.
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The proposed expanded TIF stretches along the Northwestern Avenue corridor north to Lindberg Road. It includes the area commonly called the island, between Russell and University streets, bordered by Stadium Avenue on the north and Indiana 26 to the south. That area is being eyed by Purdue University for expansion, several council members said.
The proposed expanded TIF also includes the New Chauncey neighborhood. However, homeowners do not have to worry. TIF districts have no impact on residential property owners' taxes, said Chandler Poole, West Lafayette's economic development director.
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