The Porter County Board of Commissioners has tabled a proposal to create a tax increment financing district designed to spark development near the Porter County Regional Airport. Our partners at The Times of Northwest Indiana report commissioners have delayed a vote so they can consider an alternative proposal from the city of Valparaiso. The TIF proposal would send 40 percent of created revenue to local taxing units including schools. The paper says Valparaiso Economic Development Director Patrick Lyp says that formula gives away too much of the “potential incentive pool.”
Lyp has asked commissioners to consider an airport development zone. Under that plan, collected money would be spent on airport development projects and employee training.
Porter County Commission President John Evans says any proposal would need Valparaiso's support, since the city would need to provide utilities.
Source: The Times of Northwest Indiana