LIGONIER — A checkup on the health of Ligonier’s tax-increment financing (TIF) districts earned good marks Wednesday morning.
The Ligonier redevelopment commission (RDC) heard an annual report from Heidi Amspaugh of Baker Tilly during its meeting.
Amspaugh attended the meeting via Zoom and walked the board through the annual review of the three TIF districts in the city.
She started with the largest TIF, Warren, which captures the assessed value of places like Precision Tank and Equipment and L&L Associates.
The Warren TIF has helped fund multiple projects, like the river wall, the city’s trails, city hall’s parking lot and the horse parking lot.
Both the Warren and Guardian TIF districts will fund the upcoming fire station in Petit Park. In fact, Amspaugh presented the annual review document as a draft, allowing for edits to be made to factor in the fire station.
For those, plus the Tenneco TIF, cash flow and projected assessed value are expected to stay stable for the next few years.
“Overall, you guys are in really good shape,” Amspaugh said.
The RDC also commented on the new stretch of trail in town, of which they oversee financing for.
“I will say, the trail looks really nice,” RDC member Chris Fought said.
Ligonier Mayor Patty Fisel said even though the new stretch of the Strawberry Valley trail between Bridge Street and Martin Street along the Elkhart River has been paved, one of the next steps may be letting people know it’s there.
“I’m looking forward to putting some signs up so people know where it’s at,” Fisel said.
The agreement between the RDC and the redevelopment authority was also revised at both boards’ meetings, happening right after each other that morning.
Schenkel Construction was awarded the bid for the project, Ligonier Police Chief and Public Safety Director Bryan Shearer said, to the tune of $5,389,974.
It was one of seven bids received May 6 from companies around northeast Indiana and Ohio. Schenkel Construction is based out of Fort Wayne and had the lowest bid.