From the LaPorte Herald-Argus:
With developers planning to create new jobs and expand the Thomas Rose Industrial Park this year, La Porte officials are hoping a new amendment helps them on their way.
On Wednesday, members of the La Porte Redevelopment Commission gave final approval to an increased tax increment financing district over the park area, which can help fund future infrastructure development there.
”I think we are on our way,” said commission president Gene Dollberg. “No ifs, ands or buts. We are dedicated now to moving forward with our project.”
The expansion is expected to introduce dual rail service and provide up to 1,000 new jobs.
Members also authorized the city’s staff to have its financial and bond counsels, along with the city attorney engage Space Center, the project’s developer, on developing an agreement.
Dollberg said the city needs to get a contract and establish a timeline for infrastructure and construction. He said developers have expressed interest in starting construction this year.
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A TIF fund creates revenue dedicated to a specific area.
http://heraldargus.com/articles/2013/04/25/news/local/doc51787fa11f676001831112.txt
