Thursday evening the Plymouth Redevelopment Commission took the first steps to amend the project lists in TIF #1 and #3. This also sets up the opportunity to bring a bond issue into TIF #1 and lengthen it out the life of it to 2040.
The resolution passed in TIF #1 will add a major improvement of the Ledyard Water Treatment Plant and improvements to Pioneer Drive north of US 30 for the future development of the Love’s Travel Stop and the future INDOT Substation.
The water treatment improvements would include repairs to the detention tanks, new horizontal pressure filter, rework the chemical feed room, a new laboratory for testing, an upsized generator a news equipment storage building, new pavement and interior improvements to the existing building with 2 offices, a break room and locker room. There is also a proposed water main extension that will go along the east side of the plant hearing north, under the river, over to West LaPorte Street and back to the plant to create a loop. Total project cost is estimated to be $3.7 million.
The Pioneer Drive project would substantially widen the road and improve the base to handle the additional truck traffic. No cost estimate was set forth but City Attorney Sean Surrisi said the two projects would be in the $10 million range.
The Redevelopment Commission pledged approximately $80,000 to the bond payment annually. City Attorney Sean Surrisi said the City would be looking at additional funding for the projects from INDOT and business owners in the area.
The Redevelopment Commission also approved a resolution to amend the project list for TIF #3 and will add the Pioneer Drive project because it goes right between the two TIF districts. Surrisi said, “We will look to partially fund the project from both of those TIFs.”
Both resolutions were unanimously approved the Plymouth Redevelopment Commission.
