By Dave Fidlin
Correspondent
Expressing optimism with perceived economic improvements, members of the Whitewater CDA recently discussed a number of the areas of the city designated as tax incremental financing (TIF) districts.
Officials briefly went over TIF districts 5 to 8 during a meeting Oct. 23. TIFS 5 and 7 are designated for mixed-use, a term denoting a blend of commercial and residential uses. TIFs 6 and 8, meanwhile, are earmarked for industrial use.
“We’re kind of getting out of the doldrums of this economy,” said CDA Chair Jeff Knight, expressing optimism of future development within the city.
During their whirlwind review of the TIF districts, CDA members received a report of their proposed assessed values. TIF 5 is valued at $3.5 million, TIF 6 at $2.7 million, TIF 7 at $356,500 and TIF 8 at $355,000.
“They’re very much pie-in-the-sky numbers,” CDA Coordinator Patrick Cannon said.
Moving forward, CDA officials plan to review some of the more specific numbers associated with each of the TIF districts, including development costs and improvements to infrastructure, including street construction, right-of-way acquisition and other amenities.
Additionally, a thorough analysis of land acquisition is planned, as is the cost of relocating any existing buildings within the TIF districts and possible developer incentives.
“From my perspective, there are a couple of things I think we should be looking at,” Knight said.
Consultation with an engineer is essential, Knight said, because the professional’s insight will assist in setting priorities.
“We have to prioritize where we’re going to go first and second and third,” Knight said.
One of the developments on the CDA’s wish list is some type of medical facility.
