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June 12, 2013

Traffic signal, gateway open the door to TIF development in Sellersburg

SELLERSBURG —

Approval of a gateway and road to be constructed off Ind. 311 carries with it the expectation and hopes for the development of Camp Run Commons.

Four years after the plans were conceived, work is finally ready to move forward to help develop Sellersburg’s tax-increment financing district. The Sellersburg Town Council approved a resolution at its meeting Monday night that will allow for the construction of a gateway, traffic light and extension of Enterprise Way off of Ind. 311.

Sellersburg Town Attorney Jake Elder said the bond approved last week by the Sellersburg Redevelopment Commission would initially total about $550,000, but could be issued in a series of bonds up to $1.1 million.

The gateway to the town’s TIF district has moved from its originally planned location near McDonald’s off Enterprise Drive to across the street from the Sellersburg post of the Indiana State Police.

Eric Goodman, vice president of development for API, explained the gateway to the TIF district was going to be up by McDonald’s, but the restaurant chain owned the right-of-way and it was asking for more than $1 million to sell it. To create a new entrance to the site, API offered to construct a new four-lane road that will cut through the middle of its property and install a traffic light at the intersection across from the police post and Ivy Tech Community College.

“The reason why we are doing this is to create new commerce and jobs in Sellersburg, create tax income for the TIF district and then also build a foundation for the future development of Enterprise Way, which would also create a new gateway for the TIF district,” Goodman said.

It would also make the property that is owned by ARC-Sburg LLC — a company owned by Alan Muncy, president of API —  adjacent to the new road ripe for development.

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