Redevelopment Commission
The Crown Point Redevelopment Commission was formed as the entity that supervises the administration of Crown Point's Tax Increment Financing District (TIF district). A TIF district is a tool used by a state, county, or city to provide financing for infrastructure improvements required to bring property considered "Blighted" back onto the tax rolls.
The method works like this, the property tax based on the assessed value of the property when it is included in the district is locked in and will continue to go to the governmental bodies entitled to receive it. The RDC pays for infrastructure improvements to the property that could not be done by the private sector for any number of reasons. If as a result of the infrastructure improvements new commercial improvements are made, the new tax amount based upon the added value of these improvements, or "increment", goes to the RDC. The RDC, who probably had to borrow money to do the infrastructure improvements then uses the new tax money to repay any debt and fund its future operations.
The RDC has the legal right to buy and sell property, rent property, borrow money, and also employ professional consultants in its work.
The meetings of the RDC are every 2nd Monday at 5:30 PM in the Council Chambers. These are public meetings, and everyone is welcome to attend.
The method works like this, the property tax based on the assessed value of the property when it is included in the district is locked in and will continue to go to the governmental bodies entitled to receive it. The RDC pays for infrastructure improvements to the property that could not be done by the private sector for any number of reasons. If as a result of the infrastructure improvements new commercial improvements are made, the new tax amount based upon the added value of these improvements, or "increment", goes to the RDC. The RDC, who probably had to borrow money to do the infrastructure improvements then uses the new tax money to repay any debt and fund its future operations.
The RDC has the legal right to buy and sell property, rent property, borrow money, and also employ professional consultants in its work.
The meetings of the RDC are every 2nd Monday at 5:30 PM in the Council Chambers. These are public meetings, and everyone is welcome to attend.
City of Crown Point 2007
Appointed by City Council
Appointed: 1/7/2008 Term Ends: 12/31/2011
Mark Schweitzer
Bob Corbin
Appointed: 1/5/2004 Term Ends: 12/31/2011
Member
Member
Appointed by Mayor
Appointed: 1/1/2008 Term Ends: 12/31/2011
Anthony Schlueter
Member
Appointed: 1/5/2008 Term Ends: 12/31/2011
Stephen Figurski
Member
Member
Randy Palmateer
Appointed: 1/1/2008 Term Ends: 12/31/2011
