The house currently
for sale at the southeast corner of East Porter Ave. and South Calumet Road
is located in a tax increment financing district.
Which is good news,
announced Member Jim Ton, R-1st, at Monday night’s council meeting.
That means the town
could use TIF moneys to purchase the property, the first necessary step--the
acquisition of right-of-way--in widening and aligning the intersection, and
perhaps installing a traffic signal there.
“This is exactly
what TIF funds were intended to be used for,” Ton said, “improving the
quality of life and improving traffic flow.”
The council took no
action on Monday--in fact, the Redevelopment Commission would need to do so,
as it is the body which administers TIF moneys--but, under state law, before
anything else happens two appraisals of the property in question would have
to be obtained. And the commission could pay no more for it than the average
of the two appraisals.
Loan to Las
Ton had one more
announcement on Monday: that--subject to final legal review--the Chesterton
Economic Development Company has made its first low-interest loan to a
Downtown business, namely, Las Mamacitas, for the remodel of the space at
225 S. Calumet Road, formerly the home of Volstead and before that
“So we’re up and
running,” Ton said.
Loans are available
at a 2-percent interest rate and must be re-paid within five years. For more
information call the Clerk-Treasurer’s Office at 926-1641.