Bargersville officials want extended sewer lines, sidewalks and signs to welcome visitors into town, and are asking for tax dollars to pay for the projects.
Town officials want to double the acreage of the tax-increment financing, or TIF, district to prepare Bargersville for future development, town council president Kenneth Zumstein said. TIF districts are used to promote economic development and make infrastructure improvements in certain areas.
But by expanding the TIF district, property taxes from new development that would go to other governments, such as Johnson County Public Library, White River Township or Center Grove Community Schools, would be collected by the town instead.
A public hearing on the proposal is set for February.
Town officials want the TIF district expanded now in preparation for new development, Zumstein said. Taxes collected in the larger TIF district will be used to pay for $7.1 million in improvements to the town, including adding sidewalks along State Road 135 and Two Cent Road, extending sewer lines to serve future development and make improvements to the town’s electric utility so businesses can have easier access.
Town officials also want to use the TIF money to add welcome signs near the Bargersville limits, according to the proposal.
Currently, the TIF district accrues about $127,000 per year but the expanded area would bring in nearly $400,000 per year, according to the tax impact statement.
The properties that town officials want to include in the TIF is along State Road 135, and at State Road 37 and County Road 144. The majority of the 65 parcels of land included in the expanded TIF district area is currently zoned for commercial use. The land doesn’t border the town’s current TIF district, but would be legally connected through right-of-way along County Road 14 or the railroad tracks, Bargersville Director of Development Julie Young said.
If new development does come to Bargersville, it would likely be near a planned sports complex or State Road 37, in addition to State Road 135 which is already included in the TIF district, Zumstein said.
A developer is planning a 50,000-square-foot indoor sports facility with outdoor softball and baseball diamonds that would be used to host tournaments and leagues on 45 acres at State Road 135 and Two Cent Road.
And the Indiana Department of Transportation is still considering whether the future Interstate 69 should follow the route of State Road 37, and the town expects development to follow. If State Road 37 is the option chosen for I-69, businesses will want to open gas stations, restaurants or other stores near the interstate, Zumstein said.
With I-69 potentially building on top of State Road 37, the town needs to add signs to the town limits on State Road 135 and near State Road 37 to welcome visitors to Bargersville, Zumstein said.
The additional money would also be used to match other work already happening in town, Zumstein said. For example, the town received a grant to install a sidewalk along County Road 144, from State Road 135 to State Road 37, he said.
To continue with the installation of that sidewalk, town officials want to add more pedestrian trials or paths along State Road 135, Zumstein said.
Town officials are looking at more than $7 million worth of improvements to Bargersville. Here’s a look at what projects would be funded through the expanded tax-increment financing district property tax revenue:
Two Cent Road street and pedestrian improvements
State Road 135 pedestrian pathway
Sanitary sewer improvements
Electrical utility improvements
Access road improvements
State Road 37 monument or gateway signage
Marketing and branding of gateway areas into Bargersville
Source: Tax impact statement from town of Bargersville
Bargersville town officials want to double the size of the tax-increment, or TIF, district.
65: Number of parcels proposed to be included in the expanded TIF district
$2.43: Tax rate in new areas per $100 of assessed value
$127,760: How much Bargersville collects currently in the existing TIF district
$387,950: How much additional money would be collected in the expanded TIF district per year
$5,000,000: The amount of assessed value in the TIF district from future development that Bargersville is anticipating within 10 years
Source: Tax impact statement from the town of Bargersville
Residents, property owners and government officials can give feedback about the new TIF district during a public hearing at 8 a.m. Feb. 11 at Bargersville town hall, 24 N. Main St.