MT. VERNON — The City Council will be presented with an ordinance to amend the redevelopment plan for the Industrial Park Conservation Area TIF during it meeting Monday night.
The first steps to amending the IPC TIF, also known as the West Side TIF, were approved by the council in March, in order to allow residential development in the area.
“The redevelopment plan did not anticipate housing development being a possibility in the IPC TIF District,” explained City Manager Ron Neibert. “The high school making the area near it as its new site has changed the area a little bit. What was once attractive for heavy industrial development is now attractive for a lighter development that includes some housing.”
The move to amend the ordinance came after RJ3A developers received a TIF inducement resolution in September 2012 after presenting plans for an apartment complex, possibly a hotel, and a retail development to be located north of the new Mt. Vernon Township High School site on Wells Bypass.
By statute, the city has to draft any changes, the changes go before the Joint TIF Review Board and a public hearing held, before the council can approve the amendments. In June, the Joint TIF Review Board approved the amendment. Neibert said at that time the amendment will allow the city to focus on its housing shortage while drawing economic interest to the community.
“The critical factor where it affects us is in terms of trying to attract certain classes of retailers,” Neibert said. “They look for rooftops, population and per capita income. This addresses all of those things, and by creating market rate housing, it helps raise the city’s per capita income.”
In other business, the council will:
Hear bid results for resurfacing the west main parking lot at Veterans Park and results for bids for the Dawson Park basketball courts;