Title
Public Hearing: Oldham Village Tax Increment Financing Plan; Oldham Investors, LLC, applicant
Body
Issue/Request:
This is a public hearing to consider the Oldham Village TIF Plan.
Key Issues:
Consideration of the Oldham Village TIF Plan.
Proposed TIF Commission Motion for Resolution:
I move to approve Resolution 2024-1.
Background:
Oldham Investors, LLC, has filed a TIF Plan with the City to provide incentives for the redevelopment of the property that was formerly used as the ADESA Auto Auction site.
Impact/Analysis:
The Cost Benefit Analysis in the packet provides a comprehensive review of the tax benefits to all taxing districts as a result of the TIF Plan. The presentation slides and other supporting material in the meeting packet provide a detailed analysis of the TIF Plan.
Timeline:
Start: 4th quarter 2024
Finish: Determined by market conditions
Presenters
David Bushek, Chief Counsel of Economic Development & Planning.
Matt Pennington, Oldham Investors, LLC, and other developer team members.