Mt. Vernon Register-News

March 19, 2013

City to amend redevelopment plan

The amendment will allow for residential development in the area

By TESA GLASS
tesa.glass@register-news.com

MT. VERNON — — The city will be amending its tax increment finance redevelopment plan for the Industrial Park Conservation TIF to allow for residential development in the area.

"The redevelopment plan did not anticipate housing development being a possibility in the IPC TIF district," said 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."

At this time, there is one developer which has expressed interest in doing some housing in the TIF area, RJ3A, which had a TIF inducement resolution approved by the council in September 2012. Plans from the company include an apartment complex, possibly a hotel and a retail development, located north of the new Mt. Vernon Township High School site on Wells Bypass.

Neibert told members of the City Council on Monday the developer has agreed to pay the $14,000 estimated cost for the redevelopment plan revision up front. The council approved moving forward with the revision.

In other business, the council: