Muncie Hopes to Spark Southside Development
by Sammy Edmonds
posted Jan 3 2014 3:19PM
Muncie city officials are hoping to spark development on the south side by establishing a “belt” of special tax districts that would pay for infrastructure improvements.
The Star Press reports the Muncie Redevelopment Commission Thursday gave initial approval to create the South Muncie Economic Development Project Area, an expansion of an existing tax increment financing district.
Revenue for that area would be bolstered by proposed projects including the development of an assisted living facility, and 26-million dollars in improvements to the Indiana-American Water Company.
But talks yesterday didn’t come without concerns about the funneling of tax revenue away from financially struggling entities like schools and libraries.
The resolution now heads to the Metropolitan Plan Commission and Muncie City Council for approval.