(Columbus) The city of Columbus is in the process of establishing a new Tax Increment Finance District. The common council Tuesday night authorized the creation of TIF #5 and approved an agreement with Ehlers Associates to create a project plan. The new TIF would include nine parcels located north of West James Street, east of Industrial Drive, west of American Packaging Corporation (APC) Way and south of the railroad tracks.
City Administrator Patrick Vander Sanden says the TIF was spurred by a planned expansion of GD Roberts and Company on the city’s west side. Vander Sanden says the mixed-use TIF should be versatile enough to accommodate a variety of current and future economic development needs. The only cost being incurred by the city at this time is $15-thousand dollars for development of the TIF plan. He says there are open parcels for potential development and increment projections would cover any needed infrastructure.
The council is expected to vote next month on the district’s project plan and boundaries. Following action by the Joint Review Board and Plan Commission, Ehlers Associates will file the appropriate documents with the state by the end of next month, which would lock in the value of the district as of January of this year.