South Whitley Approves TIF District
SOUTH WHITLEY -
The town of South Whitley is putting a new Tax Increment Finance district in place. The Whitley County town says the district will help attract new investment and development, and is part of a newly-developed economic development plan.
The South Whitley Redevelopment Commission approved the TIF district and economic development plan at its November meeting. Vice President Karen Jordan calls the approval "very exciting," saying it will help "push South Whitley onward to becoming a vital community once again."
Much of the TIF district focuses on downtown South Whitley as well as the South Whitley Industrial Park, where the town says there is a lot of opportunity for continued development. Property tax revenue from increases in assessed values in the district will be reinvested to support community improvement projects.
The newly-approved economic development plan outlines goals including: attracting new business, improving public spaces, downtown revitalization and promoting public art.