Indiana lawmaker wants to create TIF along South Shore Line for development

0
397
(Photo supplied/ABC 57)

INDIANAPOLIS (AP) — A lawmaker looks to encourage transit-oriented development projects in Northwest Indiana cities and towns.

Rep. Hal Slager (R-Schererville) is sponsoring a bill that would create a Sales Tax Increment Financing district within a half-mile of the tracks of the current South Shore rail.

The (Northwest Indiana) Times reports that the STIF would capture growth in sales tax revenues and provide funding to the Northwest Indiana Regional Development Authority, with the remainder given to the state.

Under the plan, RDA would be able to give matching grants for transit-oriented development projects to Northwest Indiana cities and towns that spend local tax funds or provide a portion of their county income tax revenues to support South Shore improvements.

LEAVE A REPLY