PRINCETON — Gibson County Redevelopment Commission will hear proposals for use of Tax Increment Finance revenue to help develop two housing subdivisions in and near Princeton.
Gibson County Commissioners unanimously endorsed the requests for use of TIF revenue for the development projects Tuesday morning.
Gibson County Economic Development Corp. CEO/President Paul Waters reported Tuesday that the request for use of up to $1,128,100 in TIF revenue for development of a proposed 51-lot subdivision on the western edge of Princeton was reduced to $950,000.
Developer Greg Koberstein, who owns the property on the west side of White Church Road, proposes to invest $594,000 in infrastructure including the $176,000 land value, $88,000 in marketing and real estate commissions, $27,500 to create an entrance to the subdivision, $79,600 in sanitary sewer work, $58,200 in water line work, $137,500 in gas main construction and $27,500 in broadband conduit construction.
The project has a commitment from the City of Princeton (which might annex the subdivision in the future) of $250,000 in funding for water and sewer line construction and easement acquisition, contingent upon the county providing TIF funding.
Commissioners also endorsed Haubstadt housing contractor Ken Reinbrecht's proposal, contingent upon County Attorney Jim McDonald's review, to develop apartments and homes on the former Baldwin Heights School property just west of the South Main Street overpass in Princeton.
The Baldwin Heights property was given by the North Gibson School Corporation to the City of Princeton to be donated to Habitat for Humanity of Gibson County for development of affordable housing in the community. The non-profit charitable organization sold the property to Reinbrecht this summer, and earmarked proceeds of the sale to help build Habitat homes at a subdivision on Princeton's east side. Reinbrecht plans to develop the former school property for 48 apartments and lots to accommodate 21 homes.
The local builder proposes to invest about $7.2 million into site preparation for home lots and building two apartment buildings. Waters asked commissioners to consider endorsing Reinbrecht's request for use of $185,250 in TIF revenue to help defray cost of excavation, storm and sanitary sewer and water line work.
Last fall, a request for use of $1.5 million TIF funding to build an apartment complex on the south edge of Fort Branch was presented to the redevelopment commission, but the commission was only prepared to award $1.125 million, and the project was shelved. Waters reported Tuesday that the Fort Branch apartment project is back in negotiation.
In other business at the board of commissioners' first meeting of 2018, members elected Alan Douglas as president and Steve Bottoms as vice president.
• Voted 3-0 to advertise for bids for purchase of a dump truck for the highway department. Highway Superintendent Chuck Lewis asked commissioners to use their equipment fund for the purchase rather than highway department equipment funds. The board also authorized advertising to fill a vacant mechanic position at the highway department.
• Agreed to check into a request for replacing floor covering at the Gibson County Health Department and to make ADA upgrades to that facility's restrooms.
• Learned that the annual meeting of the Gibson County Soil and Water Conservation District is at 6 p.m. Jan. 23 at the Gibson County Fairgrounds 4-H Center.
• Authorized a community corrections grant application renewal for a program aimed at reducing recidivism. The 12 to 16 week program could work with eligible people with facing potential petition to revoke probation, giving successful participants an opportunity to qualify for a stay of a petition to revoke.
• Approved these annual appointments: Bill Knowles and Commissioner Gerald Bledsoe to the Wabash River Corridor Commission, Jim Bryant to the Alcoholic Beverage Commission, Douglas to the Local Emergency Planning Commission, Bledsoe to the Gibson County Economic Development Corp. board, Dr. Quentin Emerson as county physician and approved his contract as jail physician, Bottoms and Matt Wallace to the Southwest Indiana Regional Economic Development Corp., Douglas to the Gibson General Hospital board and sheriff's department pension board, Bledsoe to the Gibson County Chamber of Commerce board, all three commissioners as the county grievance committee, Rick Reed, James Amick, George Ballard as voting members and Mark Iunghuhn as non-voting member of the Gibson County Redevelopment Commission, John Howe to the Gibson County Subdivision Committee, Nancy Gehlhausen, Douglas and Stanley Madison to the Gibson County Visitors and Tourism Commission, Douglas to the Downtown Princeton Inc. board, Lee Burns to the Owensville/Montgomery Twp. Fire District board, Bledsoe to the district planning oversight committee, Charles Schmitt to the Haubstadt Planning Commission and Auditor Sherri Smith, Treasurer Mary Key and Bottoms to the Gibson County Holding Corp.