Fort Wayne is moving forward with the creation of a tax increment finance district on the south side of the city. Last week, Mayor Tom Henry announced a partnership with a Michigan-based firm in an effort to attract more retail to the area.
The city says the TIF district will allow new tax revenue to be used for infrastructure projects such as roads, sidewalks and streetlights. The Fort Wayne Redevelopment Commission will consider the resolution Monday. It also needs approval from the Fort Wayne Plan Commission and Fort Wayne City Council. Final adoption could come in February.
The proposal is part of an ongoing effort to spark economic development in south Fort Wayne. A recent analysis by Gibbs Planning Group found demand for as many as 120 new retail shops and restaurants in the area. It’s also part of northeast Indiana’s Regional Cities Proposal. The region’s plan includes transforming the Clyde Theatre in south Fort Wayne into a performing arts and special events center.