Photo provided An artist’s rendition of a proposed mixed use apartments development on land near Cummins parking garage in downtown Columbus.
COLUMBUS, Ind. — Columbus redevelopment officials have tabled a request to move forward with engaging the developer of The Taylor to build another multifamily and commercial development, which would call for a contribution of $5.4 to $5.8 million in tax increment financing (TIF) dollars.
The Columbus Redevelopment Commission voted Monday to table a resolution to pursue a project agreement with Flaherty & Collins Properties for the potential development, which would be located in front of the Cummins Inc. parking garage at Seventh and Washington streets.
The motion passed 3-2, with Kyle Hendricks, Shannon McDonald and Al Roszczyk voting in favor of a continuance. Trena Carter and Cynthia Boll voted against.
Hendricks made the motion after a lengthy discussion among commission members, with Columbus City Council members and other members of the public also providing comment on the project.
“There area lot of stakeholders in this room that are involved in a lot of different areas,” said Hendricks. “We have local business. We’ve got arts and culture. We’ve got the youth. We’ve got new residents. I’m not convinced, from the conversation that we’ve had today, that we should move forward on this project, from more of a strategic standpoint than any one single detail.”
Deron Kintner, general counsel with the developer, described the concept as a five-story apartment building with approximately 50 to 55 units with some first-floor commercial or retail space.
Flaherty & Collins plans to buy the land from Cummins and have residents and tenants pay the company for use of its parking. Kintner said that this is not expected to be too expensive; it’s just intended to help Cummins cover the cost of operations.
Additionally, Cummins is expected to pay for a portion of the construction costs for a firewall between the new building and the garage.
The proposed resolution being considered by the redevelopment commission states that “under the terms of the proposed Project Agreement, the commission would agree to (contribute) an amount not greater than $5,800,000 toward the cost of the Additional Mixed-Use Project, subject to the completion of all procedures required by law.”
The document indicated that funds from the Central TIF district would be used to make this contribution.
For the complete story, see Thursday’s Republic.
