GOSHEN — The Elkhart County Redevelopment Commission approved a $365,000 appropriation to repay three contributors to a sewer project north of Middlebury.
The commission voted to use the tax increment finance money to repay the Elkhart County Regional Sewer District, Grand Design RV and Lippert Components Inc. next year. The three entities contributed toward a 2015 project to bring sewer service to the area, with water treatment being done in White Pigeon, Michigan.
Between 2015 and 2018, the total project cost added up to $895,678.
The money will be allocated out of funds collected in a TIF district that was established in 2014, centered around the interchange of S.R. 13 and the Indiana Toll Road.
The TIF was created with the expectation that the infrastructure improvements would increase surrounding property values and encourage further business expansion.
The sewer district will receive a reimbursement of $12,137, Grand Design will receive $125,723 and Lippert will get $224,564. County attorney Craig Buche explained the amounts were calculated based on how much of the up-front cost each entity contributed, minus the value each received from the completed sewer extension.
Grand Design contributed $578,466, from which $202,742 was deducted as well as $250,000 in grant money the company received from the state. Lippert contributed $276,414, from which $51,850 was deducted.
The sewer district covered a $12,137 shortfall in the project cost.
The TIF currently holds funds of $576,809. It’s scheduled to continue operating until 2044.